The correction that we had yesterday was to be expected after a prolonged active sequence in the crypto world. Nevertheless, the main cryptos are still holding the 8EMA, which is key for the overall market sentiment. Is it a consolidation phase before another bull run, or have we entered a bearish phase? According to technical analysis the following support and resistance levels are important in order to determine the short term trend.
1st support level is at 8EMA at 47782. 46647 is the next support level in case it does not manage to hold. On the upside 50500 remains a strong resistance, which if surpassed, we will start to add to the coin.
Ethereum is currently trading at 8EMA levels. See if it holds 3160 for indication. 3126 is second support to note. Resistance remains previous says highs at 3355. It needs to regain and consolidate above in order to start another active sequence.
ADA was the coin that increased the most in the recent days. Was also one of the main ones that corrected the most, which was to be expected after the incredible bull run that started at the beginning of August at 1.20 levels when E-Club Trading started buying using the tier system. 2.58 is first support at 8EMA while the record 2.96 is main resistance. See how it reacts around those to determine your game plan.