ADA - 6h. Buyers are preparing local growth to $ 1.24
Updated
The active growth of the ADA price at the end of February predicted for many investors the continuation of a strong trend and a significant improvement in the condition of their deposits. It was the test of $0.99 on February 26 that gave buyers a good signal for a strong wave of growth. During the day, the price of ADA rose by 36%. However, buyers could not keep the important range of $1.15-1.19 for continued growth. As you can see in the chart, the struggle for this range lasted until March 13.
The main problem in the ADAUSDT market is a significant decrease in buyer interest. This is clearly seen in the volume of trades. On March 5 and 13, buyers launched a counterattack and attempted to break through the range of $1.15-1.19. However, looking at the volume, these counterattacks were doomed even before the start. Thus, the Sellers managed to lower the price to the mark where the last aggressive rise in the ADA price began.
Now the price of ADA is in uncertainty. On the one hand, the range of $0.97-0.99 is still under the control of buyers. As the nature of the ADA price increase was much more aggressive than the current local downward trend, this can be seen as a correction before the new growth momentum. In this scenario, the first critical point will be $ 1.08. It is in this mark that the trend line of sellers now passes. In this case, we expect the ADA price to rise to 1.24 to begin with. Our global idea for ADA has much higher goals:
An alternative scenario is to continue falling to the range $0.83-0.85. The trend line of buyers is broken down. Also, below $0.97-0.99 there is no interest in this coin. Given the probability of deep correction of BTC
The probability of continuing to increase the price of ADA at the moment is significantly higher than its alternative scenario. Therefore, we expect a firm fixation above 0.97-0.99 to buy this coin with less risk.
___________________________
We create both short-term ideas (for a local understanding of the market situation) and medium-term forecasts of price movements.
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The main problem in the ADAUSDT market is a significant decrease in buyer interest. This is clearly seen in the volume of trades. On March 5 and 13, buyers launched a counterattack and attempted to break through the range of $1.15-1.19. However, looking at the volume, these counterattacks were doomed even before the start. Thus, the Sellers managed to lower the price to the mark where the last aggressive rise in the ADA price began.
Now the price of ADA is in uncertainty. On the one hand, the range of $0.97-0.99 is still under the control of buyers. As the nature of the ADA price increase was much more aggressive than the current local downward trend, this can be seen as a correction before the new growth momentum. In this scenario, the first critical point will be $ 1.08. It is in this mark that the trend line of sellers now passes. In this case, we expect the ADA price to rise to 1.24 to begin with. Our global idea for ADA has much higher goals:
An alternative scenario is to continue falling to the range $0.83-0.85. The trend line of buyers is broken down. Also, below $0.97-0.99 there is no interest in this coin. Given the probability of deep correction of BTC
The probability of continuing to increase the price of ADA at the moment is significantly higher than its alternative scenario. Therefore, we expect a firm fixation above 0.97-0.99 to buy this coin with less risk.
___________________________
We create both short-term ideas (for a local understanding of the market situation) and medium-term forecasts of price movements.
Subscribe to us and get daily concise analytics!
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