ADA stumbled after the NIGHT event ◈ ❖ Will the price hold at the level of 0.405? ❖
The ADA currency experienced a turbulent period coinciding with the launch of NIGHT, at a time when investors were facing strong pressures and accumulated losses, making the event closer to an excessive buying wave that failed to change the overall market trajectory.
✦ About a week before the NIGHT event on December 8, the price of ADA began to move upward from the area of 0.37, achieving a remarkable jump of over thirty percent in one day, reaching a peak of 0.484.
However, this momentum did not last, as buyers failed to maintain the positive pressure.
⬤ The inability of the price to reclaim the long-term resistance level near 0.52 revealed that the rise was temporary, and that buying power was not sufficient to confirm a stable upward trend #ADA! #SYBLUS