ADA/USDT
One of the best performers of the previous bull run. Since peaking at over $3 in 2021, we have seen a dramatic pullback in price, currently trading at $0.26
Will we see another huge comeback, or is this coin now dead?
If we look at the previous cycle, we saw an almost two-year accumulation before the huge rise. This is something many assets do before a bull run. Looking at the current price action price is still in a downtrend with no confirmation of accumulation yet.
Price has found support on the yearly value area low, which will be important to hold; otherwise, further downside becomes more likely; further down areas of support are located at $0.15, which is a weekly level and a level that marked the start of the 2020 bull run. In terms of resistance, we have a weekly level of $0.32, with the most significant resistance at $0.45. This zone is critical for the bulls to reclaim, as this is also the yearly point fo control.
