The ADA/USD pair is moving within a short-term downtrend and this week reached the year's lows around 0.3418 (Murrey [–2/8]). Fixing the price below this level will give the prospect of further decline to 0.3173 (Murrey [–2/8] for H4) and 0.2900 (the lower border of the downwards channel). The key point for the "bulls" remains 0.3906 (Murrey [8/8]), supported by the middle line of Bollinger Bands. If it consolidates above it, the price will return to the main Murrey trading range and can rise to the area of 0.4150 (Murrey [1/8], upper downwards channel border) or 0.4395 (Murrey [2/8]).
Technical indicators signal the continuation of the downtrend: Bollinger bands and Stochastic are directed downwards, while the MACD is increasing in the negative zone.
Resistance levels: 0.3662, 0.3906, 0.4150, 0.4395. | Support levels: 0.3418, 0.3173, 0.2900.