Analysis #ADA 4H-Frame:
Support Zone: $0.3165
Resistance Zones: $0.3980, $0.4522, $0.5106
Price Action: ADA has been in a downtrend, consistently making lower highs and lower lows.
Recently, it bounced from the support level at $0.3165, indicating some buying interest. We migh target our upper trendline around $0.39
Bullish Scenario: If ADA stays above $0.3165 and breaks above $0.3980, it could target the next resistance at $0.4522. Breaking above this could lead to challenging the higher resistance at $0.5106.
Bearish Scenario: If ADA drops below $0.3165, further declines could continue the bearish trend, targeting lower levels.
Short-term: Watch price action around immediate support and resistance. A break above $0.3980 with strong volume could indicate a bullish move.
Long-term: The trend remains bearish; exercise caution until a clear reversal or breakout above major resistance levels is seen.
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Support Zone: $0.3165
Resistance Zones: $0.3980, $0.4522, $0.5106
Price Action: ADA has been in a downtrend, consistently making lower highs and lower lows.
Recently, it bounced from the support level at $0.3165, indicating some buying interest. We migh target our upper trendline around $0.39
Bullish Scenario: If ADA stays above $0.3165 and breaks above $0.3980, it could target the next resistance at $0.4522. Breaking above this could lead to challenging the higher resistance at $0.5106.
Bearish Scenario: If ADA drops below $0.3165, further declines could continue the bearish trend, targeting lower levels.
Short-term: Watch price action around immediate support and resistance. A break above $0.3980 with strong volume could indicate a bullish move.
Long-term: The trend remains bearish; exercise caution until a clear reversal or breakout above major resistance levels is seen.
ߋ theaccountantsignals