Ada de Cardano
Token exchanged $ 0.6154 on Monday afternoon, extending his decrease to 5.35% in the last 24 hours. The token dropped regularly through several levels of support after a sale at the end of the session started around 10:00 pm UTC on June 16. Despite a brief attempt to recover earlier in the session, the lower structure remained intact before noon on Tuesday.
The correction reflects a broader risk behavior through digital assets, as global macroeconomic conditions remain tense. Trade disputes and monetary tightening between major economies have additional pressure on risk markets, causing ADA and other lower capitalization token.
However, some technical analysts have indicated potential signs of reversal of the ADA structure. A brief rebound from $ 0.622 to $ 0.626 earlier in the session formed a small jump channel, with a test price of $ 0.624 to $ 0.625 several times. This area has now appeared as a potential pivot area, although the volume has since tapered and volatility has shrunk.
With ADA merchant just above its lowest daily, the bulls ensure stabilization of approximately $ 0.615 to $ 0.620. A clear directional movement from here may depend on the possibility of recovering from this support area and if wider market conditions are starting to recover.
Strengths of technical analysis
- A sharp drop started at 10:00 p.m. UTC on June 16, while ADA broke below the support level of $ 0.650 over a high volume.
- Several unsuccessful attempts to recover $ 0.630 have created a new resistance band around $ 0.640.
- Lower ups have been formed at each rebound, confirming the pressure down through the period.
- A support area developed between $ 0.620 and $ 0.622 as the volume was reconciled at these levels.
- The price has entered a descending channel with lower tops and coherent lower stockings.
- A brief resumption of $ 0.622 to $ 0.626 created an ascending score micro-channel in an increasing volume.
- The resistance was formed at $ 0.626, the area from $ 0.624 to $ 0.625 acting as a pivot beach during repeated tests.
- Recent candles have shown a decrease in volatility and volume, signaling consolidation near local stockings.
Non-liability clause: Parties of this article were generated with the help of AI tools and examined by our editorial team to guarantee the accuracy and membership of Our standards. For more information, see Complete Coindesk AI policy.
