In this afternoon’s pullback, $ADA was out in front—not in gains, but in losses: it’s down 4.1% over the past 24 hours, trading around $0.1977. Its 24-hour range is $0.1956 to $0.2101, with spot trading volume of about $24.13 million.
Looking at the 7-day range, it’s $0.1956 to $0.2188, down 6.3% over the week. It’s now just over 1% above the 7-day low, essentially hugging the bottom of the range.
For comparison, BTC is down 1.2% over the same period, trading around $79,932, while ETH is down 1.8%, at around $2,312. In other words, ADA isn’t the only coin affected by this afternoon’s pullback, but it has fallen more than the broader market.
Before the European session begins, keep an eye on three levels: to the upside, first the 24-hour high of $0.2101, then the 7-day high of $0.2188. To the downside, $0.1956 is both the 24-hour and 7-day low. If it breaks below that level, the 7-day range will have a new low. For now, treat the one-day drop as something to watch, not a conclusion. The key question is whether trading volume picks up from here.
There’s another time to keep in mind tonight: 20:30, when the U.S. advance Q3 GDP estimate, September PCE data, and weekly jobless claims are all due. Volatility could increase around the releases. Until the range breaks, one day’s move doesn’t establish a trend.
Do you think ADA will return to $0.2101 first, or test $0.1956 first?
$ADA #Cardano #MarketWatch
Looking at the 7-day range, it’s $0.1956 to $0.2188, down 6.3% over the week. It’s now just over 1% above the 7-day low, essentially hugging the bottom of the range.
For comparison, BTC is down 1.2% over the same period, trading around $79,932, while ETH is down 1.8%, at around $2,312. In other words, ADA isn’t the only coin affected by this afternoon’s pullback, but it has fallen more than the broader market.
Before the European session begins, keep an eye on three levels: to the upside, first the 24-hour high of $0.2101, then the 7-day high of $0.2188. To the downside, $0.1956 is both the 24-hour and 7-day low. If it breaks below that level, the 7-day range will have a new low. For now, treat the one-day drop as something to watch, not a conclusion. The key question is whether trading volume picks up from here.
There’s another time to keep in mind tonight: 20:30, when the U.S. advance Q3 GDP estimate, September PCE data, and weekly jobless claims are all due. Volatility could increase around the releases. Until the range breaks, one day’s move doesn’t establish a trend.
Do you think ADA will return to $0.2101 first, or test $0.1956 first?
$ADA #Cardano #MarketWatch
