$ADA is dropping fast right now, but selling volume might be hitting a climax.
Looking at the short-term chart, price just took a steep dive from around 0.2135 down to 0.2074, breaking below the MA60 line (0.2120). It’s a very clear lower-high and lower-low structure in the immediate term, with the 24h low sitting down at 0.2004.
What caught my attention is the volume indicator at the bottom. As price sliced downward, volume spiked significantly (red volume bars peaking around 1.98M with MA5 at 988K). That heavy sell volume suggests aggressive dumping, but fast drops into heavy volume often signal a potential local exhaustion point once the selling pressure dries up.
For resistance, I’m watching the MA60 level near 0.2120 and the 24h high at 0.2163. On the downside, the main visible support to protect is the 24h low at 0.2004.
I’m not chasing this drop. Before considering any setup, I’d want to see price form a base and print a reversal structure above 0.2074, accompanied by declining sell volume.
A break below 0.2004 invalidates any bounce thesis and keeps bears firmly in control.
I’m waiting for confirmation around 0.2074–0.2004 before considering an entry.
Looking at the short-term chart, price just took a steep dive from around 0.2135 down to 0.2074, breaking below the MA60 line (0.2120). It’s a very clear lower-high and lower-low structure in the immediate term, with the 24h low sitting down at 0.2004.
What caught my attention is the volume indicator at the bottom. As price sliced downward, volume spiked significantly (red volume bars peaking around 1.98M with MA5 at 988K). That heavy sell volume suggests aggressive dumping, but fast drops into heavy volume often signal a potential local exhaustion point once the selling pressure dries up.
For resistance, I’m watching the MA60 level near 0.2120 and the 24h high at 0.2163. On the downside, the main visible support to protect is the 24h low at 0.2004.
I’m not chasing this drop. Before considering any setup, I’d want to see price form a base and print a reversal structure above 0.2074, accompanied by declining sell volume.
A break below 0.2004 invalidates any bounce thesis and keeps bears firmly in control.
I’m waiting for confirmation around 0.2074–0.2004 before considering an entry.