Cardano (ADA) Update: Bull Trap or Recovery?
Cardano (ADA) has struggled to reclaim $1, facing strong resistance and increased volatility. After a sharp pullback, the token stabilized near $0.7, bouncing back without deeper corrections. However, despite this rebound, ADA remains at risk of further downside.
Key Bearish Signals:
🔻 Whale Activity Drops – Large ADA holders (owning 0.1%+ of supply) reduced exposure by 90% in the past 7 days, per IntoTheBlock data.
🔻 High Volatility – ADA’s price fell from $0.977 to $0.75 last month, showing uncertainty.
🔻 Descending Parallel Channel – After breaking its ascending trendline, ADA now trades in a downward structure.
Can ADA Break $1?
📈 Bullish Divergences Emerging – The Chaikin Money Flow (CMF) & RSI hint at rising buying strength.
📈 Key Breakout Level – ADA must surpass $0.786 to spark a rally toward $0.90+.
If ADA validates its recent rebound, a breakout could lead to a new uptrend. However, if buying pressure fades, the price may drop further, trapping bulls.
Key Bearish Signals:
🔻 Whale Activity Drops – Large ADA holders (owning 0.1%+ of supply) reduced exposure by 90% in the past 7 days, per IntoTheBlock data.
🔻 High Volatility – ADA’s price fell from $0.977 to $0.75 last month, showing uncertainty.
🔻 Descending Parallel Channel – After breaking its ascending trendline, ADA now trades in a downward structure.
Can ADA Break $1?
📈 Bullish Divergences Emerging – The Chaikin Money Flow (CMF) & RSI hint at rising buying strength.
📈 Key Breakout Level – ADA must surpass $0.786 to spark a rally toward $0.90+.
If ADA validates its recent rebound, a breakout could lead to a new uptrend. However, if buying pressure fades, the price may drop further, trapping bulls.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.