💰$ADA UPDATE 🚀
ADA is trading around 0.1560 inside a descending channel from the 0.2800 highs, with price now attempting to hold the 0.1560 horizontal support zone after wicking down to the lower channel near 0.1405. Every recovery attempt has been sold into, with the descending trendline resistance continuing to slope down near 0.1720 and capping any meaningful bounce.
A breakout above the descending trendline near 0.1720 would open the door toward the 0.1800–0.1900 range. Losing 0.1520 on an 8H close risks a retest of the lower channel near 0.1405. Reclaiming 0.1640 would be the first sign that the worst of the selling pressure may be exhausting.
#ADA #Erinacrypto $ADA
ADA is trading around 0.1560 inside a descending channel from the 0.2800 highs, with price now attempting to hold the 0.1560 horizontal support zone after wicking down to the lower channel near 0.1405. Every recovery attempt has been sold into, with the descending trendline resistance continuing to slope down near 0.1720 and capping any meaningful bounce.
A breakout above the descending trendline near 0.1720 would open the door toward the 0.1800–0.1900 range. Losing 0.1520 on an 8H close risks a retest of the lower channel near 0.1405. Reclaiming 0.1640 would be the first sign that the worst of the selling pressure may be exhausting.
#ADA #Erinacrypto $ADA