Price Action on the 4-Hour Chart
- ADA has plummeted over 30% from its peak of $0.8107.
- It’s currently trading around $0.4604, down 0.65% in the past 24 hours.
- The price has failed to cross above the trendline, pushing it further down.
- It’s also trading below the 100-day moving average, indicating a sustained decline.
- The RSI suggests a downtrend with the signal line below 50%.
Price Action on the 1-Day Chart
- ADA remains below the 100-day moving average and trendline.
- The RSI confirms the downtrend with the signal line below 50%.
- If the price breaks below $0.4255, it could drop further towards $0.4000.
- If it holds above these lows, it may start an upward movement towards $0.5243.
Conclusion
ADA’s failure to break above key resistance levels has kept it in a downtrend. If it continues to move down and breaks below $0.4255, it could test its support at $0.4000. However, if it can hold above these lows, it may start a recovery towards $0.5243.
