It's been a rough week so far for the crypto market. In just two days, ADA fell by as much as 30%! This sell-off has pushed the price all the way down to test the major support level of the channel trend. This major support level also coincides with the 200 MA. In which price almost touched it before a quick recovery back into the trend.
For this reason, there are two main scenarios I see right now. Either we'll hold the 200 MA or we'll break it, leading to more downside.
Click for full interactive chart: http://empowertrader.com/2021/06/ada-holding-the-200-ma/
Chart: Daily
