Cardano fell 35% from its October high — further than ETH or SOL — and I'm watching whether the steepest faller bounces first. Does the steepest faller bounce first, or just bleed slower?
Martinez's case is the Tom DeMark Sequential: a 9 and a 13 buy signal on ADA's three-day chart. Those flags mark exhaustion, not a turn — Martinez calls it a potential reversal setup, not a bottom call.
The tape backs the signal up. Thursday's flush printed $0.1777; Friday reclaimed $0.185, and the flush candle carried the window's biggest volume bar.
Wrong below $0.1777 on a daily close — that's the invalidation.
Two ceilings above: $0.1897, Friday's high, then $0.1996, Thursday's high. Take the first and the bounce has legs; take the second and the downtrend starts to crack.
My lines: support $0.1777, Thursday's low. Resistance $0.1996, Thursday's high.
Are you watching ADA for a bounce, or still ignoring it?
NFA, DYOR.
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