$ADA

ADA Price Analysis: Short-term Rebound or Continued Decline? ADA Price Analysis

On December 9th, the ADA price fell below the recent support level of $1.11, triggering selling sentiment and accelerating the decline.

On December 10th, the price rebounded from $0.91, showing that bulls are attempting to intervene. However, according to technical analysis, the rebound may encounter resistance at the 61.8% Fibonacci retracement level of $1.18. If the price fails to break through $1.18 and falls back below the 20-day moving average, this may indicate that the market is entering a range-bound state.

Possible Subsequent Trends:

Bullish Scenario:

If the bulls successfully push the price above $1.18, ADA may rebound further to $1.23759, followed by testing the resistance level of $1.33.

Bearish Scenario:

If the price falls below the key support level of $0.90, the bears may regain control, and the price could further decline.

In the short term, attention should be paid to the resistance level of $1.18 and the support area of $0.90 to determine the direction of the next trend.