- ADA / USD bulls push prices back inside the 20 day Bollinger Band.
- Oscillator Elliott has had 32 red sessions out of the last 33, showing overall bearish sentiment.
ADA / USD daily chart
ADA / USD bulls returned to the market after a strongly bearish Tuesday. The price went from $ 0.112 to $ 0.1159. Following this bullish price action, price was able to re-enter the 20-day Bollinger Band, showing that the ADA / USD is no longer undervalued. Oscillator Elliott has had 32 red sessions out of the last 33, indicating that general market sentiment is bearish.
ADA / USD shows strong levels of resistance to $ 0.122, $ 0.1297 and $ 0.1329 (SMA 50 and SMA 20). The SMA 50 broke above the SMA 20 to trace the bearish cross pattern. In contrast, we have two healthy levels of support at $ 0.1009 and $ 0.112.