$ADA

ADA market analysis: Long-short confrontation, the key battlefield is about to be revealed!

Brothers, ADA has fluctuated a lot recently, and the 0.618 Fibonacci retracement level ($0.9436) has become a defensive position for bulls. Let's see how it will perform next!

If the current bulls want to regain control of the situation, they must break through the resistance band of $1.22 to $1.34. Only by standing firmly in this area can they send a signal to resume the upward trend.

After the breakthrough, it is expected to continue to soar to $1.67, but the selling pressure here is expected to be relatively strong, which may form a short-term correction.

On the downside, if the bears push the price below the 20-day moving average ($1), market sentiment may quickly turn bearish.

Once it falls below, ADA may make a deep correction to $0.87, further delaying the restart of the upward trend.