Traders should watch the 0.5207, 0.50, 0.5292, and 0.5351 Fib resistance levels overhead. Below, 0.5300-0.5329 could buoy prices. Meanwhile, 0.5400 forms resistance. Monitoring reactions at these zones will provide clues on the stronger 1 hour trend direction and potential break of the range.
For a more in-depth technical analysis across different timeframes, please click the link to view the identified levels of support and resistance, trends, and reversal patterns on the weekly, daily, and 4-hour charts.
1 Hour Timeframe
The ADA price has been consolidating over the past week on the 1 hour chart. Let’s examine some key support and resistance levels that may provide clues on the near-term breakout direction.
Fibonacci Retracement Levels
We have the following Fibonacci retracement levels overhead:
- 0.5207 (38.2% retracement)
- 0.50 (50% retracement)
- 0.5292 (61.8% retracement)
- 0.5351 (78.6% retracement)
These classic Fib levels at 0.5207, 0.50, 0.5292 and 0.5351 will act as potential resistance if prices rise. Watch for reactions around these levels.
Supply Zone
A supply zone is formed between 0.5389-0.5429, catching recent minor highs. This zone may provide selling pressure if prices move up into it.
Fair Value Gap/Imbalance
A bearish fair value gap from 0.5300-0.5329 was broken below, leaving an imbalance this zone may seek to fill. This makes the lower boundpotential support on further weakness.
Fibonacci Retracement Levels
0.382 | 0.5207 |
0.50 | 0.6284 |
0.618 | 0.5292 |
0.786 | 0.5351 |
0.882 | 0.5387 |
Supply Zone
Zone Number | High | Low |
Supply Zone #1 | 0.5429 | 0.5389 |
Fair Value Gaps / Imbalances
Gap Number | High | Low |
Bearish FVG #1 | 0.5329 | 0.5300 |