ADA still in downward channel - key resistance $1.0 and $1.1

1 mar 2022

ADA is still trading well within it's downward channel from ATH's in August 2021. Movement direction still correlated with Bitcoin's price action, so if Bitcoin maintains upward movement I expect ADA to retest the $1 level and eventually the $1.1 level. Maintaining it's value above $1.1 will signal a shift out of the downtrend, at least on a short time frame until shown otherwise. If there is rejection from the $1 level, then I expect a retest of $0.90.

Cheers!