The quotes of the ADA/USD pair are holding around five-week highs of 0.3865.
Positive dynamics may reach 0.4000 (Fibonacci retracement 50.0%), 0.4150 (Murrey level [+1/8]), and 0.4394 (Murrey level [+2/8], Fibonacci retracement 61.8%). The key “bearish” level is 0.3418 (Murrey level [6/8]), supported by the middle line of Bollinger bands, if it is broken, a reversal and a price decrease to 0.3173 (Murrey level [5/8], Fibonacci correction 23.6%) and 0.2929 (Murrey level [4/8]) is likely.
Technical indicators are signaling the continuation of the uptrend: Bollinger bands and Stochastic bands reverse upwards, while the MACD histogram is increasing in the positive zone.
Resistance levels: 0.4000, 0.4150, 0.4394. | Support levels: 0.3418, 0.3173, 0.2929.