The ADA/USD pair continues to trade within the long-term downward channel.
Since the beginning of last week, the price has been in the range of 0.2685−0.2441 (Murrey levels [3/8]−[2/8]) but today, they are trying to storm its lower border. In case of success, the quotes will open a way to decrease to the area of 0.2197 (Murrey level [1/8]) and 0.1953 (Murrey level [0/8]). The key “bullish” level is the upper limit of the sideways range 0.2685, supported by the middle line of Bollinger bands. If it is broken, the upward dynamics may increase up to 0.3173 (Murrey level [5/8], the upper line of Bollinger bands).
Technical indicators confirm the continuation of the current trend: Bollinger bands and Stochastic are directed downwards, and the MACD histogram is increasing in the negative zone.
Resistance levels: 0.2685, 0.2929, 0.3173, 0.3418. | Support levels: 0.2441, 0.2197, 0.1953.