ADA Price Analysis – August 31
ADA has given an above-average performance in the last few days.
Resistance levels: $0.140, $0.150, $0.160
Support levels: $0.010, $0.090, $0.080
ADA/USD could move above $0.015 in the coming month, according to current speculations. The difficult phase seems to be over for this coin, as it is heading towards bullish trends this week. A few days ago, ADA started the uptrend pushing the price from $0.105 to $0.127 but today shows an uptrend of over 4.08%.
Consolidating to the Upside
ADA/USD is currently trading at $0.122 above the 9-day MA; although the coin touched 0.122 after the market opens today but may likely retest the support level of $0.110 before moving upward again. Breaking below the mentioned-support level could possibly bring it to $0.100, $0.090, and $0.080 support levels.
More so, if the price fails to go below the $0.110, the bulls could move it towards the resistance level of $0.140, $0.150, and $0.160 respectively. The RSI (14) is moving above 45-level, which may bring more bullish signals into the market.
ADA/BTC Market: Price Moving Sideways
Against Bitcoin, the support level in this range is built around 850 SAT and below while the resistance is set at 1200 SAT and above because the market price has just exceeded the 9-day moving average. Technically, the price started a bullish movement a couple of days ago and the RSI (14) signal line is moving above 43-level.
At the same time, the trading volume on the daily chart is bullish and currently generating some strong buy signals, indicating that buyers are dominating. Whereas, if the price begins to decline and cross below the moving averages of 9-day MA, the bear could signal a downward movement for the market.