ADA Price Analysis – June 12
The price of ADA is consolidating around $0.080 after recording a 7.15% gain. Buying pressure may bring the market back above the 9-day moving average.
Resistance levels: $0.100, $0.102, $0.104
Support levels: $0.068, $0.066, $0.064
ADA/USD is trying to rise above the 9-day moving average after the fall of yesterday, reaching $0.081 and approaching major resistance at $0.100. The current price trend also suggests a growth momentum in the coming days. Presently, ADA is trading at $0.080 as the coin moves above the 21-day moving average.
Moreover, if the coin can experience an increasing volume coupled with a bullish regroup, ADA/USD may start to correct gain significantly on the upside. Otherwise, the bear pressure may likely become severe with more losses. However, the next level of resistance lies at $0.100, $0.102, and $0.104.
In the opposite direction, ADA price may roll back to $0.068, $0.066, and $0.064 support levels if the bears step back into the market. The RSI (14) indicator makes a quick bullish turn which may likely give more positive signals in the nearest term.
Against BTC, the market is seen to be moving around the 9-day and 21-day moving averages and within the ascending wedge channel where the price is expected to break above the 9-day MA as revealed in the daily chart. Should the price break above the upper side of the channel, then, the market may experience an upward trend which may likely touch the nearest resistance level at 980 SAT and above.
Meanwhile, if ADA price crosses down below the 21-day MA, the coin is expected to reach the support at 750 SAT and below. The RSI (14) indicator confirms that the market is moving above the 60-level which may give more bullish signals in the nearest term.
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