$ADA This round of technical interviews didn’t leave long positions any room to breathe—MACD is strongly bearish and smothers the signal line, while the stochastic indicators keep staying bearish without stopping. Price step by step “moves downward by hopping from one pit to the next.” But this kind of selloff is grinding rather than scary: liquidity has dried up so much that even ADX doesn’t dare to acknowledge a trend. There’s no slow panic sell-off where bids bottom out; instead, every “bottom” gets smashed lower. On-chain, another blow: the spot leverage long/short ratio has been squeezed up to its ceiling, and debt growth is still arching upward. All this euphoric leverage from long positions is nothing but kindling prepared for the next round of liquidations.