💡 Quick technical analysis:
🔻 ADA is trading at 0.6621 with a daily decrease of -3.75%, after touching its lowest price in 24 hours at 0.6541. The selling pressure is clear, but there are some signs of hope.
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📉 Technical indicators:
RSI (6) = 34.43 → close to oversold areas (30), indicating a near technical rebound possibility.
MACD = -0.0016 with a negative crossover, and still below the zero line, reflecting a currently ongoing downtrend.
DIF and DEA are negative → clear downward momentum.
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📊 Price movement:
The last peak was at 0.7460, followed by a gradual decline in a 'lower peak' manner → a clear bearish pattern.
The nearby support at 0.6540 → breaking it means continued decline towards 0.6150.
Resistance is currently at 0.6920, then 0.7238.
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🔍 Other indicators:
KDJ (K = 23.91, D = 27.05, J = 17.64) → in oversold areas, supporting the possibility of a short-term upward correction.
Moving averages: the price is currently below MA(5) and MA(10) → indicating a continued short-term downtrend.
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🎯 Expected scenario:
Possible positive scenario: rebound from 0.6540 with an initial target towards 0.6920, provided this support is maintained.
Negative scenario: a clear break of 0.6540 opens the way for a decline towards 0.6150 and possibly lower.
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⚠️ Alert for traders:
The market is still under pressure, but indicators (RSI + KDJ) show signs of a near reversal.
Trading in this area is suitable for quick speculation, as well as long-term.
The support below 0.6500 is essential to avoid continued bleeding.
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Do you see ADA ready for a rebound? Or is the downward wave not complete yet?
