RLinda ! ADAUSD-> Bears again come under pressure from the bulls

8 Nov 2022

ADAUSDT is under pressure from the lack of bullish fundamentals in the cryptocurrency market. Bitcoin is down 4% momentarily and pulling the entire cryptocurrency market with it. Cryptocurrencies are still trying to form a bottom.


(Chart 1: Price shows strong resistance to price and increasing bullish sentiment)

The global chart shows a bearish mood as indicated by the daily RSI and MACD indicators. We see that the price is testing the daily MAC-50 and the bullish candlesticks after the MACD test symbolize the beginning of a new fall.

The local chart, from the technical analysis point of view, shows a break-down of the support of the ascending channel and an exit from the support at 0.3890. The potential for falling is about 10% to the area of 0.3497

Regards R. Linda!