ADA/USDT 1D Chart
Price is declining below the pivot point. The cause behind the downtrend is that the price has been making lower highs and lower lows at the resistance line at $0.6267 and breached the pivot point. Price may consolidate after rebounding from the first support at $0.4809 and may rally again by forming a new demand zone at the support line. A bullish divergence is formed by the RSI and may help the price rally above the pivot point and continue to surge. Confirmation is needed above the pivot point
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.