Rising from $0.19 to $0.27, a gain of over 40% sent sentiment into overdrive—even people outside the crypto scene started asking about ADA.
But the market showed no mercy: after touching $0.2824 on the daily chart, the price quickly hit resistance and was pushed straight back down to around $0.2538, a nearly 7% drop in a single day.
It couldn’t even hold the highs for a full day, which shows that the selling pressure overhead has barely been absorbed. If it had the strength for a sustained rally, it wouldn’t have retreated so badly at the first sign of resistance.
Sentiment spilling beyond the crypto crowd while the price gets rejected at the highs and stalls halfway up—that’s no healthy consolidation; it’s momentum fading. The rebound has probably run its course. Don’t rush to catch a falling knife.
#ADA
👇
But the market showed no mercy: after touching $0.2824 on the daily chart, the price quickly hit resistance and was pushed straight back down to around $0.2538, a nearly 7% drop in a single day.
It couldn’t even hold the highs for a full day, which shows that the selling pressure overhead has barely been absorbed. If it had the strength for a sustained rally, it wouldn’t have retreated so badly at the first sign of resistance.
Sentiment spilling beyond the crypto crowd while the price gets rejected at the highs and stalls halfway up—that’s no healthy consolidation; it’s momentum fading. The rebound has probably run its course. Don’t rush to catch a falling knife.
#ADA
👇