During the previous week ADA managed to regain some of the value compared to the week before. However, it was such a shy move, which shows that ADA is still missing market strength to make real rebound and erase losses from the previous period. ADA started the week testing resistance line at $0.50, then reverted to the downside and $0.45 level, in order to finish the week slightly below $0.50 resistance.
The Relative Strength Index made a modest move from level 41 up to 46. Currently there is no indication that the market is on the clear move toward the overbought territory. Moving averages of 50 and 200 days are continuing to move as two parallel lines, for some time now, and following a down trend.
Current charts are indicating that side trading might continue during the following days. It is clear that the coin does not have market strength to move above $0.50 resistance, but there are also not enough selling orders to push the price below $0.40. These two levels are current boundaries for ADA and will probably stay as long as ADA`s trading volumes are decreased, with equal participation of both buying and selling orders.
The Relative Strength Index made a modest move from level 41 up to 46. Currently there is no indication that the market is on the clear move toward the overbought territory. Moving averages of 50 and 200 days are continuing to move as two parallel lines, for some time now, and following a down trend.
Current charts are indicating that side trading might continue during the following days. It is clear that the coin does not have market strength to move above $0.50 resistance, but there are also not enough selling orders to push the price below $0.40. These two levels are current boundaries for ADA and will probably stay as long as ADA`s trading volumes are decreased, with equal participation of both buying and selling orders.
