The ADAUSD pair continues to display a bearish outlook, in line with the prevailing downward trend. Recent price action suggests a resistance retest, potentially setting up for another move lower if resistance holds.
Key Level: 3000
This zone, previously a consolidation area, now acts as a significant resistance level.
A failed test and rejection at 3000 would likely resume the bearish momentum.
Downside targets include:
2590 – Initial support
2490 – Intermediate support
2300 – Longer-term support level
Bullish Scenario (breakout above 3000):
A confirmed breakout and daily close above 3000 would invalidate the bearish setup.
In that case, potential upside resistance levels are:
3114 – First resistance
3194 – Further upside target
Conclusion
ADAUSD remains under bearish pressure, with the 3000 level acting as a key inflection point. As long as the price remains below this level, the bias favours further downside. Traders should watch for price confirmation around that level to assess the next move.
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