ADA needs to avoid the $0.313 pivot to target the first major resistance level (R1) at $0.318. A return to $0.316 indicates a bullish session. But the ADA will need the broader market to support the afternoon session.
Should the rally continue, the bulls are likely to rally at the second major resistance level (R2) at $0.322 and this week’s high at $0.329. The third major resistance level (R3) is located at $0.331.
A fall through the pivot would put the first major support level (S1) at $0.309. However, barring risk-driven selling, ADA should avoid below $0.300. The second major support level (S2) at $0.304 would define the downside. The third major support level (S3) is located at $0.295.