ADAUSD trend continuation, resistance at 3044

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

Key Level: 3044
This zone, previously a consolidation area, now acts as a significant resistance level.
A failed test and rejection at 3044 would likely resume the bearish momentum.

Downside targets include:

2280 – Initial support

2150 – Intermediate support

2024 – Longer-term support level

Bullish Scenario (breakout above 3044):
A confirmed breakout and daily close above 3044 would invalidate the bearish setup.

In that case, potential upside resistance levels are:

3174 – First resistance

3340 – Further upside target

Conclusion
ADAUSD remains under bearish pressure, with the 3044 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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