ADAUSD bearish sideways consolidation capped at 4,590

The ADAUSD pair continues to display a bearish outlook, in line with the prevailing downward trend. Recent price action suggests a corrective pullback, potentially setting up for another move lower if resistance holds.

Key Level: 4,590
This zone, previously a consolidation area, now acts as a significant resistance level.
A failed test and rejection at 4,590 would likely resume the bearish momentum.

Downside targets include:

3,580 – Initial support

3,160 – Intermediate support

2,830 – Longer-term support level

Bullish Scenario (breakout above 4,590):
A confirmed breakout and daily close above 4,590 would invalidate the bearish setup.

In that case, potential upside resistance levels are:

4,880 – First resistance

5,350 – Further upside target

Conclusion
ADAUSD remains under bearish pressure, with the 4,590 level acting as a key inflection point. As long as price remains below this level, the bias favours further downside. Traders should watch for price confirmation around that level to assess the next move.

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