ADA update: Watching the 0.1700 level

Been looking at $ADA again after the recent volatility. It's hanging right around the 0.1700 level. We saw a push up towards 0.17307 earlier today, but it just couldn't hold. To me, holding above 0.1700 for any sustained period would be interesting, suggesting some underlying strength might be building. The risk here, of course, is a clean break back down below 0.1650. If it can't maintain the higher lows and starts printing closes under that, then this current consolidation just looks like a bear flag, and we're likely heading lower. It's a bit of a coin flip right here, but the bounce from the intraday low of 0.16598 is something to consider.