The ADAUSD pair continues to show a bearish outlook, in line with the prevailing downtrend. Recent price action indicates sideways consolidation, which could pave the way for another leg down if resistance holds.
Key level: 2,740
This area, which was previously a consolidation zone, is now a major resistance level.
Failed test and rejection at 2,740; bearish momentum likely to resume.
The lower targets include:
2,300 – Initial support
2,208 – Intermediate support
2,085 – Long-term support
Bullish scenario (break above 2,740):
A confirmed breakout and daily close above 2,740 will invalidate the bearish setup.
In this case, potential resistance levels to the upside are:
2,850 – First resistance
2,950 – Additional bullish target
Summary
Currently, $ADA USD remains under bearish pressure, with the 2,740 level acting as a key pivot point. As long as the price stays below this level, the trend leans towards more downside. Traders should watch for price confirmation around this level to assess the next move.
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