#ADAAnalysis $ADA's Collapse Leaves Bulls With Work To Do

ADA has fallen out of a 4-month consolidation range and lost around 35% in just 5 days.

The good news? Price found buyers around the $0.1546 monthly support zone and has managed a small bounce.

The bad news? ADA remains well below the former range and the 50-day EMA. Until bulls can start reclaiming lost ground, this still looks like a market trying to stabilise after a sharp breakdown rather than the start of a new uptrend.