ADAUSDT: Have the Bulls Finally Returned? 🫣| Jan. 20, 2023
This week, we will stick to the 4-hour time frame to analyze ADA’s price action in detail.
The bulls have finally returned after a month of the bears maintaining a tight grip on the bulls. ADA has rallied by over 40% in the past two weeks after the sharp reversal earlier this month. The coin broke the stringent resistance at $0.3 and was able to extend the rally to $0.37 before pulling back.
After making good moves, ADA fell back to the support at $0.33. At the time of writing, it seems like the price has reversed from the support level, and we may see a continuation of the rally soon. If a strong reversal is seen from the current levels, the price will start approaching the resistance at $0.38 soon.
Traders must maintain caution as ADA is still close to the support and there are still chances of a breakdown. If a breakdown is seen, expect the price to fall to $0.30!
We will maintain a bullish outlook on ADA until it maintains its position above the support at $0.33.
The important price levels for this week are $0.33 and $0.38!
The bulls have finally returned after a month of the bears maintaining a tight grip on the bulls. ADA has rallied by over 40% in the past two weeks after the sharp reversal earlier this month. The coin broke the stringent resistance at $0.3 and was able to extend the rally to $0.37 before pulling back.
After making good moves, ADA fell back to the support at $0.33. At the time of writing, it seems like the price has reversed from the support level, and we may see a continuation of the rally soon. If a strong reversal is seen from the current levels, the price will start approaching the resistance at $0.38 soon.
Traders must maintain caution as ADA is still close to the support and there are still chances of a breakdown. If a breakdown is seen, expect the price to fall to $0.30!
We will maintain a bullish outlook on ADA until it maintains its position above the support at $0.33.
The important price levels for this week are $0.33 and $0.38!