The crisis continues, prices for ADA/USD and IOT/USD may consolidate after these pairs lost value for two days in a row.
ADA/USD
Even though the value of ADA fell 38% over the past week, those losses will quickly be recouped if Coinbase announces support for the token. Yesterday's bearish candle fell below the support line at 6 cents, meaning sellers are in complete dominance.
This puts our previous ADA/USD trading plan into effect.Traders should sell on retracements with stops at the November 19 highs of 6 cents. However, if the bulls can gain momentum today, the sell-off should slow and the price could break through the 6-cent mark.
IOT/USD
After a 15% decline in the asset's value over the last day, total losses IOT for the week is 39%. The IOT/USD pair is currently trading 20 cents below our primary buy trigger of 50 cents. This also means that the first bearish targets have been met and the price decline may continue.
In the event that the bears push the price below 30 cents, then traders should set targets at 20 cents and 10 cents. On the other hand, any price reversal above the 40 cent mark and the main support line could be a signal for the market to recover.
According to newsbtc.com
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