Below is the price movement scenario for ADA.
After significant consolidation of the asset in the price range between the support level at $0.2327 and the resistance level at $0.4582, an impulsive breakout of the resistance level at $0.4582 occurred at the end of 2023. This caused a subsequent establishment of a local maximum at $0.6883.
Despite the overall positive trend in the cryptocurrency market and steady growth of BTC, the asset experienced a correction, dropping by more than 30% and testing the broken level of $0.4582. This was followed by an attempt to rebound; however, from the volume profile perspective, the asset encountered volume resistance.
We expect further development of the scenario for acquiring the asset. In case of a decrease in the asset's price and subsequent retesting of the resistance level at $0.4582, as well as holding this level, together with the shift of the global POC to this mark, we will begin to form positions with further holding.
After significant consolidation of the asset in the price range between the support level at $0.2327 and the resistance level at $0.4582, an impulsive breakout of the resistance level at $0.4582 occurred at the end of 2023. This caused a subsequent establishment of a local maximum at $0.6883.
Despite the overall positive trend in the cryptocurrency market and steady growth of BTC, the asset experienced a correction, dropping by more than 30% and testing the broken level of $0.4582. This was followed by an attempt to rebound; however, from the volume profile perspective, the asset encountered volume resistance.
We expect further development of the scenario for acquiring the asset. In case of a decrease in the asset's price and subsequent retesting of the resistance level at $0.4582, as well as holding this level, together with the shift of the global POC to this mark, we will begin to form positions with further holding.