Infection risks back below $0.300 to play

ADAUSD 211122 daily chart

Technical indicators

ADA needs to break the $0.318 pivot to target the first major resistance level (R1) at $0.325 and Sunday’s high at $0.331. A return to $0.330 indicates a breakout session. ADA would also need support from the broader crypto market to exit R1.

In case the rise continues, the second major resistance level (R2) at $0.339 and $0.340 will come into play. The third major resistance level (R3) is located at $0.360.

Failure to move through the pivot leaves the first major support level (S1) at $0.304 in play. However, barring infection-driven sell-offs, ADA should avoid below $0.295. Second major support level (S2) at $0.297 would define the downside.

The third major support level (S3) is located at $0.276.

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