ADA/USD – Bulls Continue To Defend $2
Key levels of assistance: $ 2, $ 1.88, $ 1.80
Key Resistance Levels: $2.60, $2.70, $2.80.
ADA found support at $ 2 last week, provided by a .618 Fib retracement. From there, it rebounded through the week until resistance was met at $2.50 (bearish .5 Fib). Since hitting that level, the ADA has flipped over and returned to around $ 2.
ADA must this level throughout the week to prevent any further declines. It also needs to break the resistance of $ 2.50 for a chance to return to the September highs.
ADA-USD Short Term Price Prediction
Looking ahead, the first resistance lies at $2.20. Next are $ 2.30 (20-day MA), $ 2.45 (50-day MA), and $ 2.50 (bearish 0.5 Fib).
On the other side, the first strong support lies at $2 (.618 Fib). This is followed by $ 1.88 (downward 1.414 Fib Extension and 100 days MA), $ 1.80 and $ 1.66 (0.786 Fib and 200 days MA).
The daily RSI remains beneath the midline, indicating weak bearish momentum in the market.
ADA / BTC – Bulls fight against 5400 SAT resistance.
Key levels of assistance: 5000 SAM, 4800 SAM, 4715 SAM.
Key Resistance Levels: 5200 SAT, 5400 SAT, 5600 SAT.
ADA rebounded from support at 4800 SAT last week and started to move higher. It managed to break back above the 50-day MA during the week but failed to close a daily candle above resistance at 5400 SAT.
As a result, the ADA fell from weekend resistance to fall back into support at 5,000 SAT today.
ADA-BTC Short Term Price Prediction
Moving forward, the first support lies at 5000 SAT. This is followed by 4800 SAT, 4715 SAT (.5 Fib), 4500 SAT (100-day MA) and 4350 SAT (.618 Fib).
On the other side, the first resistance lies at 5200 SAT 9(20-day MA & 50-day MA). Additional resistance is found at 5400 SAT, 5600 SAT, 5800 SAT, and 6000 SAT.
The RSI is fluctuating around the midline, indicating indecision within the market.
