The Trust Layer for Market Analysts

The analysis suggests ADAUSD is in a 1-2 AB structure on the weekly chart. A key support level is identified at 0.386; holding above this level could lead to a third wave, targeting $3.50. A break below 0.386 might indicate a larger ABC correction, potentially reaching 0.318. The main scenario remains bullish if the support holds. Bitcoin dominance remains a key factor, currently at 60%, similar to last year's levels. The USDT dominance chart shows it has reached overbought conditions for the first time since 2022, typically preceding a market bottom. Bitcoin's RSI on the weekly chart is at similar levels to the pandemic drop in 2020, suggesting a potential bounce. For Bitcoin, as long as it stays above $88,000 and if it breaks the upper trend line, then there might be an overextension and it might reach a test trend line and continue overextending until May.