Here, buying activity is expected to pick up given the fact that addresses that had previously bought in this price range are likely to provide support.
Technically speaking, the demand wall highlighted above is just slightly below the daily MA 50, which is currently located at $0.301. Given that the MA 50 price level has hindered the ADA price in recent months, the task might not be an easy one for the bulls, as they would have to flip this level into support.
The RSI is close to mid-50, indicating an impending consolidation, where bulls and bears will duel until equilibrium is reached.initiates a price increase from its current levels, buyers might aim for a retest of the $0.38 level. On the other hand, a break and close below $0.30 could tip the balance in bears' favor. A major support is envisaged below the $0.30 demand wall; this is where 439,220 addresses bought 6.12 billion ADA at an average price of $0.203.
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