🐻 $ADA STILL UNDER PRESSURE – HOLD $0.37 OR SLIP FURTHER?
Cardano (ADA) continues to be pressured by bears since the flash crash on 10/10. Although the support range of $0.3707–$0.3775 still holds, the recovery momentum is currently quite… weak 😶🌫️.
📉 Derivative data does not support:
Open Interest (OI): ~ $692M, down sharply from $842M
Peak of $1.52B (10/10) and $1.95B (mid-9)
→ Speculative capital is withdrawing, retail demand is weakening
📊 Technicals are leaning towards bears:
EMA 50 / 100 / 200 are all sloping down → clear downtrend
RSI is approaching the oversold zone → strong downward momentum
MACD maintains sell signal
🎯 Scenarios:
Break below $0.3707–$0.3775: risk of returning to $0.2756 (bottom 10/10)
Break downward trendline + reclaim EMA 50 ($0.4108): opens recovery up to $0.42 – $0.45
⚠️ This article is for reference only, not a trading signal. ADA could bounce back like a spring, or it could… roll further down the slope 😅. Risk management remains number 1!