$ADA Spotting a Bearish Flag for ADA
A bearish flag pattern on Cardano's (ADA) chart is a concerning continuation signal, indicating a high probability that a current downtrend will resume following a brief consolidation.
This pattern forms after a sharp, vertical decline—the flagpole. The subsequent consolidation typically slopes upward slightly within parallel channels, reflecting temporary and weakening buying pressure. A critical hallmark is declining trading volume during this consolidation phase.
The bearish outlook is confirmed when ADA's price breaks down decisively below the flag's lower support trendline. This breakdown projects a further decline, often equal to the height of the initial flagpole.
Ultimately, this pattern warns that ADA's selling momentum is likely to overpower temporary stability.$PIPPIN $LONG
