Oh, the drama! The bears have stolen the show today, as per CoinMarketCap’s latest report.
ADA/USD: A Tale of Two Prices
Alas, poor ADA, its price has plummeted by a heart-stopping 2.51% in just one day!
An hourly glimpse reveals a false breakout of the local resistance at $0.7344. If this continues, woe betide us, for we may see ADA testing the dreaded $0.71 range by tomorrow!
On the grander scale, ADA’s rate is far from the main levels. Our gaze must then turn to the nearest area of $0.70. Should a breakout occur, the resulting energy could lead to a deeper plunge, all the way to the $0.65 range!
From a mid-term perspective, neither side holds the upper hand, as the price remains far from crucial levels.
Should the weekly bar close near its current price, traders may be treated to a merry-go-round of sideways trading in the $0.65-$0.75 zone!
At the time of writing, ADA’s price rests at $0.7281. Will it rise or fall? Only time will tell!
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2025-02-07 16:40