Cardano / TetherUSShort
Brief Analysis ——ADA
Today we will share a brief analysis of 3 old-school tokens. They are ADA, ATOM and ONE.
ADA was defined as a security in June. That's pretty bad for it. Looking at the chart, price fell at that time and covered all gains in 2023. After the fall, the bulls of ADA was still weak The price was fluctuating near the bottom until Jul.13, when a long green candle appeared. But one day later, the price turned to fall. The upward pin-bar touched the start of the FUD fall but didn’t conquer it. On a large scale, ADA remains neutral. Recently, the bulls have strengthened during the decline, but the bears still dominate.
Conclusion: The high probability decline has not ended. After the price approached the green dotted line, the bulls strengthened, but the bears did not weaken. A long red candle brought the price back to the dotted line yesterday. So we come to this conclusion. We will set resistance level at 0.377 and support level at 0.285.
If you have any ideas, welcome to communicate with us:)
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
ADA was defined as a security in June. That's pretty bad for it. Looking at the chart, price fell at that time and covered all gains in 2023. After the fall, the bulls of ADA was still weak The price was fluctuating near the bottom until Jul.13, when a long green candle appeared. But one day later, the price turned to fall. The upward pin-bar touched the start of the FUD fall but didn’t conquer it. On a large scale, ADA remains neutral. Recently, the bulls have strengthened during the decline, but the bears still dominate.
Conclusion: The high probability decline has not ended. After the price approached the green dotted line, the bulls strengthened, but the bears did not weaken. A long red candle brought the price back to the dotted line yesterday. So we come to this conclusion. We will set resistance level at 0.377 and support level at 0.285.
If you have any ideas, welcome to communicate with us:)
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
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