The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice.
expedited its downtrend while forming a reversal pattern in the four-hour timeframe. The bearish quest to find fresher lows kept accelerating amidst the market-wide uncertainties.The possibility of a reversal from a confluence of support levels in the $0.35 region could amplify the buying efforts in breaking the streak of red candles.Can the bears continue finding fresher lows?In its previous downtrend, ADA struggled to mark a rally beyond the limitations of its 20 EMA and the 50 EMA .
A convincing close above $0.36 region can put ADA on a path to recover its recent losses. Continued recovery efforts would face likely barriers in the $0.39-$0.4 range before a likely reversal. The first major support region stood at the $0.346-$0.336 range. Moreover, the recent volatile break has put ADA in a relatively low liquidity zone. Thus, making its price more susceptible to highly volatile moves.
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