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  • ADA/USD went down from $0.78 to $0.75 this Tuesday.
  • Presently, the overall market sentiment remains bearish.

Following this Monday’s bullish movement, ADA/USD has been taken over by the bears once again. This Monday, the price went up from $0.735 to $0.775, however, the bears took over and since then, the price has gone down from $0.78 to $0.75. Technical Indicators show us that the overall market sentiment is pretty bearish, so a further drop in price is expected.

ADA/USD Daily Chart

  • The second last session took the price back up inside the 20-day Bollinger band.
  • The market is currently trending very close to the lower curve of the 20-day Bollinger band.
  • Short-term support lies at $073, while on the upside, the nearest resistance is at $0.79.
  • The relative strength index (RSI) indicator is currently trending at 45.45.
  • The Elliot Wave Oscillator shows 16 consecutive bearish sessions.
  • The signal line is diverging away from the MACD line showing increasing bearish momentum.