📉 $ADA IS STILL UNDER PRESSURE BELOW $0.20
Cardano dropped roughly 21% last month, and its technical picture remains weak.
Here’s what I’m watching:
🔻 Trend: ADA is trading below both the 50-day EMA ($0.2179) and 200-day EMA ($0.2408), keeping the near-term bias bearish.
📍 Key support: $0.2019
ADA has slipped below its previous rising support, raising the risk of further downside.
If selling pressure continues, the next levels to watch are:
$0.1894 — August 30 low
$0.1712 — August 18 low
$0.1537 — July 27 low
📊 Momentum: Daily RSI is near 32, while MACD remains negative and below zero.
For now, buyers need to reclaim $0.20 and then challenge the 50-day EMA to improve the short-term picture.
Is ADA approaching a potential accumulation zone, or is another leg down still ahead?
#Cardano
Cardano dropped roughly 21% last month, and its technical picture remains weak.
Here’s what I’m watching:
🔻 Trend: ADA is trading below both the 50-day EMA ($0.2179) and 200-day EMA ($0.2408), keeping the near-term bias bearish.
📍 Key support: $0.2019
ADA has slipped below its previous rising support, raising the risk of further downside.
If selling pressure continues, the next levels to watch are:
$0.1894 — August 30 low
$0.1712 — August 18 low
$0.1537 — July 27 low
📊 Momentum: Daily RSI is near 32, while MACD remains negative and below zero.
For now, buyers need to reclaim $0.20 and then challenge the 50-day EMA to improve the short-term picture.
Is ADA approaching a potential accumulation zone, or is another leg down still ahead?
#Cardano
