Home ADA/USD Market Overview: Bears back in control following Bullish Monday
Crypto News

ADA/USD Market Overview: Bears back in control following Bullish Monday

  • 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.

 

FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.