$ADA Technical analysis of the currency on the daily frame in light of the downward trend〽️
📉 General trend
The market is currently showing a clear downward trend, with the emergence of major formations indicating important support and resistance levels.
📊 Main technical formations
1. November 23
A candle with long upper shadows was formed, as the price reached 1.158, indicating the presence of strong resistance at this level.
2. December 19-20
A double bottom pattern appeared, with the lowest level recorded at 0.848, indicating an attempt to rebound.
3. January 3
A long bullish candle was formed with an increase in trading volume, which led to the price rebounding
to 1.0896, but it did not continue rising.
💡 Current situation
Current price: fluctuating around 0.9048.
Main Support: 0.8811.
Main Resistance: 1.0235.
🔍 Technical Indicators
Moving Averages 👈
The short moving average broke below the long moving average, reflecting continued bearish pressures.
Trading Volume 👈
It witnessed a significant decrease, reflecting a state of anticipation and waiting among investors.
MACD Indicator 👈
Turned positive, but the momentum is weak and insufficient to change the current trend.
📈 Trading Forecast
The price is expected to fluctuate in the range of 0.8811 - 1.0235 in the short term, waiting for stabilization signals to appear.
💡 Recommendation
📌 Investors are advised to remain cautious in light of the current indicators.
$ADA
{spot}(ADAUSDT)
#ADA
#ADAUSDT
#Altcoins👀🚀
📉 General trend
The market is currently showing a clear downward trend, with the emergence of major formations indicating important support and resistance levels.
📊 Main technical formations
1. November 23
A candle with long upper shadows was formed, as the price reached 1.158, indicating the presence of strong resistance at this level.
2. December 19-20
A double bottom pattern appeared, with the lowest level recorded at 0.848, indicating an attempt to rebound.
3. January 3
A long bullish candle was formed with an increase in trading volume, which led to the price rebounding
to 1.0896, but it did not continue rising.
💡 Current situation
Current price: fluctuating around 0.9048.
Main Support: 0.8811.
Main Resistance: 1.0235.
🔍 Technical Indicators
Moving Averages 👈
The short moving average broke below the long moving average, reflecting continued bearish pressures.
Trading Volume 👈
It witnessed a significant decrease, reflecting a state of anticipation and waiting among investors.
MACD Indicator 👈
Turned positive, but the momentum is weak and insufficient to change the current trend.
📈 Trading Forecast
The price is expected to fluctuate in the range of 0.8811 - 1.0235 in the short term, waiting for stabilization signals to appear.
💡 Recommendation
📌 Investors are advised to remain cautious in light of the current indicators.
$ADA
{spot}(ADAUSDT)
#ADA
#ADAUSDT
#Altcoins👀🚀
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
ADA
0.3606
-2.75%