Will ADA drop below $0.16?

I'm keeping a close eye on $ADA lately. After a period of relatively flat movement, it seems there's some selling pressure in the market, causing today's price to drop close to $0.16133, which is the day's low. I think there's about a 60% chance we'll see $ADA break below $0.16 within the next week if the selling pressure continues like this, or if there's bad news about the overall crypto market.

The main reason I think this is possible is because many technical indicators are starting to show weakness, and momentum doesn't seem to be as strong as it once was. Furthermore, some liquidity in the DeFi market also seems to have slowed down, which could affect coins like $ADA. If $0.16 cannot be a strong support level, we might see it test even lower levels. I'm not sure how far it will drop, but it should be easy to rebound if it does break down.