menuIcon
$ 87,529.4
BTC
$ 87,529.4
3.43 %
$ 1,648.58
ETH
$ 1,648.58
3.70 %
$ 0.6463
ADA
$ 0.6463
3.86 %
$ 606.05
BNB
$ 606.05
2.13 %
$ 140.51
SOL
$ 140.51
0.98 %
Peter Oleshchuk
Jun 3, 2022
by Peter Oleshchuk

ADA Technical Analysis: Buyers Are Alive And Kicking!

ADA Technical Analysis

Table of contents

  1. ADA Technical Analysis The Daily Timeframe
  2. ADABTC Price Prepares A Reversible Pattern
During the last 9 trading weeks on the ADA market, buyers may be able to close the weekly candle above the opening price. At the time of writing, the Cardano weekly candle has absorbed the two previous candles and has every chance of consuming part three. The trading volumes during such a counterattack of buyers is not less than during the fall. However, it is important to note that no more. This means that sellers do not pose special problems for the growth of ADA price. The first real target from which sellers will try to take the initiative from buyers is $0.85. At this point, the ADA price stopped on 7 March and buyers organized a local price rebound by almost 60%.

TradingView Chart

The main critical point of sellers, above which their trend will become irrelevant - is the mark of $1.2. This mark kept the trend of buyers from 21 February to 22 January. For almost a year, buyers repulsed all the attacks of sellers, and then surrendered. From this mark in all probability it is necessary to expect at least a local rebound of the price downwards. Therefore, closing your ADA investment at $1.2 is a smart decision, especially if we take into account that from this mark sellers can update the local low from 9 May. The final target of the sellers in this case is around $0.36.

ADA Technical Analysis The Daily Timeframe

TradingView Chart

Analyzing the movement of the ADA price on the daily timeframe, you can see the consolidation zone in which the ADA price is stuck. This is the range of $0.45-$0.63. On 27 May, sellers confirmed the formation of this consolidation by failing to push the ADA price below $0.45. After that, the trading volumes during the local price growth increased significantly. Buyers are working hard to take control of $0.63.

In addition to the fact that buyers are confidently bombarding the limit orders of sellers, they are quite effective in buying the offer. A good example of this was the daily candle from 1 June. If ADA buyers stay above $0.63, we will expect the price to continue rising to $0.8. However, in the event of a decrease in trading volumes during the attack on the $0.63 mark, a re-test of the lower limit of consolidation in the range of $0.45 should be expected. This scenario is still considered positive.

ADABTC Price Prepares A Reversible Pattern

ADA

ADABTC weekly chart confirms the revival of buyers. The range 0.0000185 is not lost - so you can fight for a price rebound to 0.000026. These are the short-term plans of buyers, given the formation of the weekly candle from 30 May. After testing the mark 0.000026 for the classic turn, buyers will need to keep the mark 0.0000185 again. Though, it is no longer possible to update local low during this test. If buyers can follow these two steps - the ADA market will begin a global reversal with the first major target of 0.000039.

Follow us on: News
ADA technical analysis Cardano price ADA cryptocurrency ADA analysis ADA market ADABTC ADA price
ADA Technical Analysis: Buyers Are Alive And Kicking!
Peter Oleshchuk
Peter came to know about cryptocurrencies in 2017 and was instantly enamoured by their massive potential. As he gained more insights about the crypto market, he began writing about it. Peter's daily activity is analysis and forecasting, studying the price movements probabilities, and trying to understand the market inside. He is glad to witness such a phenomenon as cryptocurrency and decentralized finance, and to participate in it.

Top Picks