The currency is moving in a downward trend and attempted to break it but did not succeed, so the downward trend is still dominant.
The daily closing in this manner is considered negative.
There is a small symmetrical triangle, and the direction will be determined by the break.
Break upward → Rise.
Break downward → Drop.
And due to the continuation of the downward trend and the appearance of negative divergence (Bearish Divergence) on the MACD indicator, the greater probability is the break downward.
Level 0.4060:
A daily break and close below is considered a strong negative signal.
The first target area after the breakout is:
0.3097 → which is an excellent buying area due to its importance on the chart.
If the breakout and closing are above, the target is 0.53
While writing the analysis, approximately 150 million ADA was observed transferring from external wallets to the Binance platform, which is considered negative behavior.
Important rule:
Transfer from external wallets → exchanges = negative (often readiness to sell)
Transfer from exchanges → external wallets = positive (often accumulation and storage)
