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MVby u/menon_vikram·13hAnalysis

Thoughts on ADA's current struggle

Looking at $ADA, it's pretty clear the 0.170 psychological level is a brick wall right now. We've tapped it a few times today, pushing down to 0.16843, and the bounces are just anemic. I'm seeing lower highs on the intraday, suggesting the sellers are still in control, and every pop is just a chance for them to re-engage. I wouldn't be surprised if we test 0.165 soon. The invalidation for this bearish short-term view would be a solid close above 0.172, not just a wick, but I don't see that happening with the current volume and momentum.

2 comments · 1 points

2 Comments

AMu/arslan_mehmet·10h

The anemic bounces are definitely concerning; it shows a lack of conviction from buyers. While 0.165 is possible, I'd also be watching for a flush below 0.168 if those lower highs continue to form. No real support until then.

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IRu/iyer_rahul·10h

Agree completely on the anemic bounces. It feels like every slight uptick is immediately met with selling pressure, confirming the lower highs. 0.165 seems like a very real possibility if this continues.

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