ADA/USDT 4HInterval Resistance and Support
Hello everyone, I invite you to review the ADA chart on a single day interval. At the beginning, we can mark with a yellow line, the downtrend line, which the price has overcome and is currently staying above it.
Let's start by marking the support places for the price and we see that first we have a support zone from $0.38 to $0.35, but if the price goes lower, we have another zone from $0.33 to $0.31, and then we have a very strong support zone from $0.28 to $0.24.
Looking the other way, we can similarly determine the places of resistance that the price has to face. And here we see that we have the first resistance at $0.41, then we have a strong resistance zone from $0.46 to $0.52, when we manage to break it, the next resistance will appear at $0.59.
The CHOP index indicates that there is still a lot of energy to continue the move, MACD indicates the entry into a downward trend, while the RSI shows a rebound, but it still remains in the upper part, which may indicate a larger rebound.
Let's start by marking the support places for the price and we see that first we have a support zone from $0.38 to $0.35, but if the price goes lower, we have another zone from $0.33 to $0.31, and then we have a very strong support zone from $0.28 to $0.24.
Looking the other way, we can similarly determine the places of resistance that the price has to face. And here we see that we have the first resistance at $0.41, then we have a strong resistance zone from $0.46 to $0.52, when we manage to break it, the next resistance will appear at $0.59.
The CHOP index indicates that there is still a lot of energy to continue the move, MACD indicates the entry into a downward trend, while the RSI shows a rebound, but it still remains in the upper part, which may indicate a larger rebound.