• Contact
  • Privacy Policy
  • Advertise With Us
  • Login
  • Register
Your Trading Edge Magazine
  • Home
  • Feature
    • Market Commentary
    • Expert Advice
    • Columns
  • Trading
    • Shares and Trading
    • Technical Analysis
    • Trading Mindset
  • Crypto News
  • Finance
  • Subscribe
No Result
View All Result
  • Home
  • Feature
    • Market Commentary
    • Expert Advice
    • Columns
  • Trading
    • Shares and Trading
    • Technical Analysis
    • Trading Mindset
  • Crypto News
  • Finance
  • Subscribe
No Result
View All Result
Your Trading Edge Magazine
No Result
View All Result

Following a 10% Weekly Crash, ADA Bulls Defend $2 Support

September 22, 2021
in Crypto News
Reading Time: 3 mins read
A A
0
Following a 10% Weekly Crash, ADA Bulls Defend $2 Support
0
SHARES
11
VIEWS
ShareShareShareShareShare

ADA/USD – Buyers Battle To Defend $2

Key Support Levels: $2.05, $2.00, $1.88.
Key Resistance Levels: $2.21, $2.33, $2.40.

ADA managed to find support at $2 today as it rebounded from the .618 Fib level. The cryptocurrency is still down 10% over the week, $2 is looking to be a promising threshold for the bulls.

The cryptocurrency developed strong support at $2.40 last week but fell beneath it over the weekend. During the market capitulation yesterday, ADA dropped below the 50-day MA level at $2.30 and continued lower until it found the .618 Fib support at $2.05. Today, it did spike beneath $2, reaching as low as $1.91, but did quickly rebound.

ADA/USD Daily Chart. Source: TradingView.

ADA-USD Short Term Price Prediction

Looking ahead, the first support lies at $2.05 (.618 Fib). This is followed by $2.00, $1.88 (downside 1.414 Fib Extension), $1.80 (100-day MA), and $1.75 (.786 Fib).

On the other side, the first resistance lies at $2.21 (bearish .236 Fib). This is followed by $2.33 (50-day MA), $2.40 (bearish .382 Fib), $2.55 (bearish .5 Fib & 20-day MA), and $2.70 (bearish .618 Fib).

As expected, the RSI is beneath the midline as the sellers control the market momentum.

ADA/BTC – Market Finds Support AT 4800 SAT

Key Support Levels: 5000 SAT, 4710 SAT, 4600 SAT.
Key Resistance Levels: 5050 SAT, 5400 SAT, 5800 SAT.

ADA also found solid support at 4800 SAT yesterday, which allowed the market to rebound and break back above 5000 SAT. The coin fell beneath 5000 SAT at the start of the weekend and continued lower until the support was found at 4800 SAT.

Today’s bounce has allowed ADA to break back above 5000 SAT and climb above the 50-day MA level. It is now battling the May 2021 highs.

adabtc-sep21-min
ADA/BTC Daily Chart. Source: TradingView.

ADA-BTC Short Term Price Prediction

Looking ahead, the first resistance lies at 5050 (May 2021 highs). This is followed by 5400 SAT (20-day MA), 5800 SAT, and 6000 SAT.

On the other side, the first support lies at 5000 SAT (50-day MA), 4715 SAT (.5 Fib), 4600 SAT, and 4350 SAT(.618 Fib & 100-day MA).

Again, the RSI slipped beneath the midline as the bears took control. Today’s rebound has started to reduce the bearish pressure.

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

Credit: Source link

ShareTweetSendPinShare
Previous Post

Binance suspends futures, options trading in Australia amidst regulatory troubles

Next Post

Where to buy Ariva token as ARV rises by 172%

Related Posts

New referendum-led governance structure proposed for Polkadot
Crypto News

New referendum-led governance structure proposed for Polkadot

June 30, 2022
4
BlockFi Gets Money Services License in Iowa Weeks After Paying a $1M Penalty
Crypto News

BlockFi Gets Money Services License in Iowa Weeks After Paying a $1M Penalty

June 29, 2022
4
MakerDAO to invest $500 million in U.S. securities and bonds
Crypto News

MakerDAO to invest $500 million in U.S. securities and bonds

June 29, 2022
5
ChangeNOW’s Mike Ermolaev on Non-Custodial Wallets vs. CEXs in Forbes Interview
Crypto News

ChangeNOW’s Mike Ermolaev on Non-Custodial Wallets vs. CEXs in Forbes Interview

June 29, 2022
8
Snoop Dogg on crypto winter and why its good for the industry
Crypto News

Snoop Dogg on crypto winter and why its good for the industry

June 29, 2022
6
Next Post
Where to buy Ariva token as ARV rises by 172%

Where to buy Ariva token as ARV rises by 172%

Recommended

Strategic Cost Management Helps Energy Companies Uncover Supply Chain Inefficiencies

Plans For a Minimum Tax On Profits Of Multinationals- Global Trade Mag

June 26, 2022
5
India Emerges as Fastest-Growing Syringe Exporter Worldwide

The Great Export USA Reset

June 17, 2022
6
Target’s latest pivot was a ‘rip the bandaid off type event’: Analyst

Target’s latest pivot was a ‘rip the bandaid off type event’: Analyst

June 9, 2022
5
Following Smart Contract Audit, Winner Block Announced Token Presale Details

Following Smart Contract Audit, Winner Block Announced Token Presale Details

June 2, 2022
5
Can Mushe (XMU) compete with the amazing successes of Dogecoin (DOGE) and Polkadot (DOT)?

Can Mushe (XMU) compete with the amazing successes of Dogecoin (DOGE) and Polkadot (DOT)?

June 12, 2022
7
Your Trading Edge Magazine

This is an online news portal that aims to share the latest news about trade, finance, crypto and much more. Feel free to get in touch with us!

What’s New Here!

  • Couche-Tard says high prices boost sales of cheap beer & tobacco
  • New referendum-led governance structure proposed for Polkadot
  • Economic Pressures Contribute to Finance Leaders Improving Last-Mile Readiness

Subscribe Now

Loading
  • Contact
  • Privacy Policy
  • Advertise With Us

© 2021 - ytemagazine.com - All rights reserved!

No Result
View All Result
  • Home
  • Feature
    • Market Commentary
    • Expert Advice
    • Columns
  • Trading
    • Shares and Trading
    • Technical Analysis
    • Trading Mindset
  • Crypto News
  • Finance
  • Subscribe

© 2021 - ytemagazine.com - All rights reserved!

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?