ADAUSDT → Correction to the liquidity zone before the fall ↓

8 apr

ADAUSDT is in a bear market, under pressure. An exit from consolidation and a pullback with the aim of retesting the resistance (liquidity zone) before further decline is formed



The fundamental background for cryptocurrencies is extremely negative. Bitcoin on yesterday's manipulation related to the 90-day tariff break, which was later denied by the White House began to form “helicopters” and high volatility. As the market calms down, the price returns to the selling zone, which creates pressure for Cardano as well.
Technically, a false breakdown of 0.5 fibo is formed and the price is consolidating near the local support at 0.5800. The breakdown and consolidation of the price below 0.58 will provoke the continuation of the fall. A retest of the previously broken consolidation support at 0.6300 is possible.

Resistance levels: 0.63, 0.6661
Support levels: 0.581, 0.5092, 0.4564

The market structure is exclusively bearish. A False breakout of resistance or breakdown of 0.581 will provoke a further fall, but the level of 0.5092, if broken, will finally drive the coin into the zone of emptiness, which may lead the price to fall to 0.45- 0.42.

Regards R. Linda!

9 apr

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