at press time, a bearish reversal could not be counted out yet. A move above $22.6k was significant- but have the recent days of trading been a deviation before a reversal?Plotting the path forward as ADA shows some near-term losses that were possibleOn the four-hour chart presented above, it was seen that ADA faced some resistance at $0.383. In the past few hours of trading, it was forced to drop sharply below the $0.357 mark.
The RSI fell below neutral 50 in recent hours to show some downward momentum. Meanwhile, the OBV has not slipped beneath a support level from earlier this month, which meant bulls were still in the fight. Since Bitcoin was at a critical location, confirmation of a bullish continuation or deviation could take some time to form. Given the bullish structure on the daily timeframe, ADA bulls can wait for a move to $0.34 or $0.325 and a bounce in prices thereafter, before bidding.
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