ADA price is in a long-term downside movement since the record highs made in September. However, the price bounced back nearly 35% from the all-time-low of February. Furthermore, the price remains pressured below the 200-day EMA (Exponential Moving Average) at $1.29.
Currently, the ADA price is hovering near the mentioned lower levels. From the daily chart, it can be assumed ADA is under a bullish reversal pattern as a “morning reversal pattern’. To complete this pattern, a daily candlestick above $0.92 would be required.
ADA price started the session on a lower note but recovered some of the early losses.