ADAUSD swing low retest capped at 2855

The ADAUSD pair continues to display a bearish outlook, in line with the prevailing downward trend. Recent price action suggests a sideways consolidation, potentially setting up for another move lower if resistance holds.

Key Level: 2855
This zone, previously a consolidation area, now acts as a significant resistance level.
A failed test and rejection at 2855 would likely resume the bearish momentum.

Downside targets include:

2400 – Initial support

2300 – Intermediate support

2185 – Longer-term support level

Bullish Scenario (breakout above 2855):
A confirmed breakout and daily close above 2855 would invalidate the bearish setup.

In that case, potential upside resistance levels are:

2950 – First resistance

3070 – Further upside target

Conclusion
ADAUSD remains under bearish pressure, with the 2855 level acting as a key inflection point. As long as the price remains below this level, the bias favours further downside. Traders should watch for price confirmation around that level to assess the next move.

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