ADA Technical Analysis: Maximum Risk Of Collapse
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Starting in February 2021, the $1 mark was a good support for both the upward and downward trends. However, the low liquidity near this mark indicates the low interest of large investors. The second problem is low trading volumes at the critical point. In fact, at 4 weeks, buyers did not have the strength to peel off the price of $1. If the Bitcoin fall continues and buyers do not keep the range of $40,000 - the ADA market could collapse significantly with the first global target of $0.66.
ADA Technical Analysis On The Daily Timeframe
After the last fall wave on 19 January, buyers could raise the price by only 20%. The daily candle from 17 February updated the local low. This once again confirmed the weakness of buyers. Box in the coming days, the ADA price will not rise above $1.2 by the end of February we will see a breakdown of $1 down. Taking control of $1.2 will open the way for buyers to the upper limit of consolidation - $1.61.
However, if the dynamics of volumes in the ADA market do not change - the growth to this target will be quite long. The weakness of buyers is so great that the ADA price since mid-November has not touched the upper trend line of the falling channel. Now the trend of this trend - it will be a great achievement of buyers. It is too early to talk about a reversal of the downward trend and the beginning of a new growth wave.
The ADABTC Price Is Trying To Slow Down In The Fall
As of May 2021, there are no trading volumes on the ADA market. While the price is falling without volumes, it is too early to say whether to buy this cryptocurrency. Yes, the price is clearly slowing down and volatility is declining. All these are signals for the formation of a new impulse. But, to the ADA strong liquidity zone the prospect of falling 20%-25%. Given the fact that buyers have lost a critical range of 0.000032, the best that ADABTC market can expect - is a consolidation in a wide range of 0.000023-0.000032. From such consolidation, a new local growth wave with the first target of 0.000048 can be born. Though, even after this growth wave, the probability of a new fall impulse is maximally high.