ADA/USD – Bulls Fade At $1.20
Key Support Levels: $1.10, $1.00, $0.95.Key Resistance Levels: $1.20, $1.30, $1.37.
ADA dropped by a total of 3% today as the cryptocurrency continues to fall short at $1.20. It had bounced from support around $1.07 (.382 Fib) last week but struggled to close a daily candle above the $1.20 resistance since rebounding.
ADA has now been rangebound between $1.37 and $1.00 for the entire period of March 2021, and a breakout of one of these two boundaries will be the next indicator as to which direction it would head toward next.
ADA/USD Daily Chart. Source: https://www.tradingview.com/x/oVLltrT5/ADA-USD Short Term Price Prediction
Looking ahead, the first level of support lies at $1.10, which is provided by a 2-month rising trend line. This is followed by $1.00 (50-day EMA), $0.95 (.5 Fib), and $0.90.
On the other side, the first resistance lies at $1.20. This is followed by $1.30, $1.37 (1.414 Fib Extension & March High-day closing price), and $1.46 (1.618 Fib Extension).
The RSI is straddling the midline as indecision looms within the market. To break $1.20 and head toward the upper March boundary, the RSI must start to push higher to indicate increased bullish momentum.
ADA/BTC – Buyers Continue The Battle To Defend 2000 SAT.
Key Support Levels: 2000 SAT, 1950 SAT, 1800 SAT.Key Resistance Levels: 2200 SAT, 2300 SAT, 2455 SAT.
Against Bitcoin, ADA has formed somewhat of a symmetrical triangle pattern during the second half of March. The cryptocurrency rebounded from 2000 SAT last week but was unable to close a daily candle above 2200 SAT, where lies the upper boundary of this triangle.
It has since dropped lower slightly as …
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