ADAUSD | Patterns, Support Levels, and Market Sentiment | Crypto
Today’s focus: ADAUSD
Pattern – Breakout/Support Test (Bearish)
Support – .2375
Resistance – .2490 – .2640
In this analysis, we delve into ADAUSD on the daily chart. ADAUSD is a market I consistently keep an eye on, and at present, we’re uncovering several intriguing patterns and support levels, which we have thoroughly examined in this video.
ADAUSD is a market I consistently keep an eye on, and at present, we’re uncovering several intriguing patterns and support levels, which we have thoroughly examined in this video. The two keys, long-term support, seen at .2375 and an ending diagonal pattern that continues to remain in play.
I have discussed three main cases in today’s analysis of ADAUSD; two are bullish, and the third is a bearish continuation of the long-term trend. It will be interesting if we see a lower break over the next few days, as that will play into a case as long as it holds at the ending diagonal trendline.
https://www.tradingview.com/chart/ADAUSD/YI0SKD9a-ADAUSD-Thoughts-and-Analysis/
What do you think? Do you agree with the patterns and levels we have discussed?
* The information provided on this page are the opinions of the author and do not necessarily reflect the opinions of Eightcap and are not endorsed by Eightcap.
Any person acting on the information presented on this page does so entirely at their own risk. No representation or warranty is given as to the accuracy or completeness of this information. Any research provided does not have regard to any specific investment objectives, financial situation and needs of any specific person who may receive it.
Margin trading involves a high level of risk and may not be suitable for all investors. You should carefully consider your objectives, financial situation, needs and level of experience before entering into any margined transactions with Eightcap, and seek independent advice if necessary.