ADA - Watching the 0.165 Support

Been keeping an eye on $ADA today, and it’s hovering right around that 0.165 mark. It’s been acting as a pretty decent support level on the lower timeframes for a bit now, managing to bounce off it a couple of times. I’m seeing a bit of a channel forming, or at least it's attempting to. The 0.1663 to 0.1672 range today isn't exactly painting a picture of conviction from either side, which is fairly typical for a Friday afternoon, if we're honest.

The scenario I'm leaning towards, if we can hold this 0.165 area, is a potential grind back up towards the daily highs, maybe even testing 0.168-0.169 again. But, and it's a big but, if we get a sustained break below 0.165, especially with any sort of volume, then this whole idea gets invalidated pretty quickly. I'd expect to see it retest 0.162, maybe even 0.160 if the sellers really get going. Just my two cents, always could be wrong.