• ADA had a 7% loss weekly
• Sellers have lost interest since the crash on June 10th and have failed to take the price lower
• With good support at 24 cents, bulls may have an opportunity to push ADA higher in the coming days
ADA Plummets 7% Weekly
The weekly price for ADA shows a 7% loss. Since the crash on June 10th, sellers appear to have lost interest which has prevented them from taking the price lower.
Potential Opportunity for Buyers
With good support at 24 cents, bulls may soon be able to take advantage of this downturn and push ADA higher in the coming days.
Trading Volume and RSI
The volume has drastically decreased in recent days which suggests that sellers don’t currently have enough strength to continue their downtrend. The daily RSI is also in the oversold area of under 30 points since June 9th which could mean that ADA may soon attempt a breakout.
MACD Indication
The daily MACD is bearish but its histogram is making higher lows, indicating that a reversal could be possible soon.
Short-Term Prediction for ADA Price
Bulls may now attempt to bring relief by pushing the price up towards key resistance at 29 cents.