ADA Price Analysis – October 28
ADA has given an above-average performance in the last few days and may continue with that in this new week as indicated by the current market statistics of the coin.
Resistance levels: $0.050, $0.055, $0.060
Support levels: $0.035, $0.030, $0.025
ADA/USD could move above $0.050 in the coming month, according to current speculations. The difficult phase seems to be over for this crypto, as it is heading towards bullish trends this week. Yesterday, ADA has moved around $0.042 mostly when the coin started trading at $0.040 and showed an uptrend of over 1.02%.
However, ADA price is currently trading at $0.043 above 9-day and 21-day MA; although the coin touched 0.044 after the market opens today but may likely retest the support level of $0.042 before moving upward again. Breaking the aforementioned support level could possibly take it to $0.035, $0.030 and $0.025 support levels.
More so, if the price fails to go below the $0.042, the bulls could move it towards the resistance levels of $0.050, $0.055 and $0.060 respectively. The stochastic RSI has entered the overbought zone, which may start giving bearish signals once it faces downward.
Against BTC, despite the fact that the coin has been unstable for the past few weeks, the bulls have managed to put a stop to the selling pressure by taken the market price to 457 SAT at the time of writing. For now, there is still a tug of war between the bulls and the bears about who will control the market.
More so, as the market opens today, the buyers have started pushing the price upward from 442 SAT where it is trading presently towards the moving averages of 9-day and 21-day. The 439 SAT is still serving as the next support level for the buyers, breaking below this level may cause the price to touch the critical supports at 400 SAT and below as the RSI (14) signal line moves around level 40.
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