ADA started the day off strong finding support at 0.98USD and closing a bullish engulfing candle on the 1hr chart. ADA then proceeded to rally into strong resistance at 1.18 and got rejected. ADA price action then seemed like it was consolidating above the 0.236 fib level (1.10USD) before giving that level up and falling closing a bearish engulfing candle on the hourly. I expect ADA in the short term to fall to 1.05USD again to retest the breakout of that level. However a breakout to the upside could bring us to 1.12USD. I am currently cautiously optimistic we might have seen a bottom at 98 cents, a break below 1.05 and we a most likely going lower to test 80 cents.