Why did ADA rise today?
After a period of volatility, the current price of ADA/USDT is 0.339852 USDT. The following is an analysis of tomorrow's ADA rally:
During the price increase, the trading volume increased, but there were signs of a decline at high levels, indicating that there may be selling pressure at high levels. The trading volume of the latest K-line has decreased significantly, indicating that there are differences between buyers and sellers in the current price range, and the market sentiment is relatively cautious.
Medusa believes that the current support level is around 0.330000 USDT, which is the low point of the most recent rebound. The upper resistance level is around 0.345048 USDT, which is the point where the price rose most recently. If the resistance level of 0.345048 USDT can be broken, it may attract more buying and push the price up further.
If the price can stabilize above 0.340000 USDT and the trading volume increases, it may push the price to test the resistance level of 0.345048 USDT again.
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