Although we have used to see tiny moves from ADA, during the previous week the coin outperformed itself. During the whole week the price of the coin was moving in a range of 2 points, between $0.41 and $0.43. The positive side of it is that the support line at $0.40 is holding strongly since the mid of May this year.
In line with spot market moves, the RSI was also moving within short spread, between levels of 35 and 43. There is still no clear indication that the market is ready to cross the line and head toward the overbought side. There has not been changes in moving average indicators, and MA50 and MA200 continue to move as two parallel lines with downtrend.
As long as investors are reluctant to enter into significant positions in riskier assets, there is a high probability for the price of ADA to continue to oscillate around $0.40 up to $0.45 levels. For the week ahead, this would most probably be the range for ADA, for one more week.
In line with spot market moves, the RSI was also moving within short spread, between levels of 35 and 43. There is still no clear indication that the market is ready to cross the line and head toward the overbought side. There has not been changes in moving average indicators, and MA50 and MA200 continue to move as two parallel lines with downtrend.
As long as investors are reluctant to enter into significant positions in riskier assets, there is a high probability for the price of ADA to continue to oscillate around $0.40 up to $0.45 levels. For the week ahead, this would most probably be the range for ADA, for one more week.
