#cryptotradingpro

Despite the controversy, technical indicators point to $ADA being in a consolidation phase at the moment. At 51.7, the relative strength index indicates neutral momentum. The MACD has a negative crossover and little upward pressure, making it somewhat bearish.

Looking at moving averages, the 10-day and 20-day EMAs and SMAs are currently acting as resistance, suggesting short-term selling pressure. Longer-term support is offered by the 30-, 50-, 100-, and 200-day moving averages, which are still trending upward.

The key to stopping additional losses may lie in ADA’s ability to maintain its position above its 100-day EMA, which is at $0.73. $ADA may move toward $0.78 or higher if bulls retake the 10-day EMA close to $0.76.

If current support levels are not maintained, the price may drop below $0.72 and possibly reach $0.70 or even $0.68. Both sides are currently waiting for a catalyst, so the outlook is neutral.