$ADA /USDT Technical Analysis š
Current Price: $0.6589 (+1.48%)
$ADA shows bearish momentum on the daily chart. The price is trading near the lower Bollinger Band at 0.5561, indicating oversold conditions, while the RSI at 48.86 suggests neutral territory approaching oversold levels.
Key Observations:
- Price significantly below 30-day MA, confirming downtrend
- Recent capitulation visible with volume spike in early October
- Declining volume suggests weakening selling pressure
Outlook: Short-term bearish bias persists. However, proximity to support levels and decreasing volume could signal an upcoming relief bounce. Watch for RSI crossing above 50 and price reclaiming the middle Bollinger Band (0.7370) for reversal confirmation.
Risk management essential ā ļø Dyor always.
