The bears exerted significant pressure on the price, causing it to drop below $0.25. Eventually, a low point was reached around $0.220, and currently, the price is undergoing a corrective phase to recover from its losses. In recent developments, the price managed to surpass the resistance levels at $0.245 and $0.250.
Moreover, it successfully climbed above the 23.6% Fibonacci retracement level, which is based on the downward movement from the swing high at $0.3820 to the low point at $0.2200. Presently, the ADA price is trading below both the $0.310 mark and the 200-hourly simple moving average.
If ADA fails to surpass the $0.300 resistance, it would encounter immediate support around the $0.2720 level. Another immediate support level is found near $0.260. The subsequent significant support level is around $0.250. If the price convincingly falls below the $0.250 level, it could potentially decline further towards the $0.220 level. Extended losses may even lead the price towards the $0.212 support. If the bears continue to exert pressure, they could aim for a test of the $0.200 level.
Price Analysis predicts that the market capitalization of this ADA will be $9,888,658,407. The 24-hour trading volume of the coin is around $1,106,602,187.
KEY LEVELS :
RESISTANCE LEVEL : $0.2900-$0.3000
SUPPORT LEVEL : $0.2700-$0.2600
Amidst selling pressure, there was observed a notable increase in buying activity during market dips. Despite the ongoing concerns surrounding SEC lawsuits, it is crucial to recognize the possibility of a bullish recovery near the support level. We invite you to share your perspectives and opinions on this matter by leaving your comments in the section below.
Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.
