After making a new $ADA 90-day low, the next move commonly follows one of three patterns:
① A rebound is rejected at 0.1657, and the previous low turns into resistance; ② Price moves sideways near the low as panic selling gradually subsides; ③ Price climbs back above 0.1657, turning the breakdown into a false one.
The current price is 0.1475, still below the previous low, so it’s too early to tell which pattern will play out. Trading volume this time was 1.8 times the 20-day average, so whether volume can keep up going forward will be key.
Will the market turn around next?
① A rebound is rejected at 0.1657, and the previous low turns into resistance; ② Price moves sideways near the low as panic selling gradually subsides; ③ Price climbs back above 0.1657, turning the breakdown into a false one.
The current price is 0.1475, still below the previous low, so it’s too early to tell which pattern will play out. Trading volume this time was 1.8 times the 20-day average, so whether volume can keep up going forward will be key.
Will the market turn around next?