$ADA Whale movement triggers a death spiral! Will the 0.65 life-and-death line break tonight?
Brothers, I just finished analyzing the ADA four-hour chart and real-time on-chain data; this trend reeks of a trap! The current price is hovering around 0.67, seemingly struggling near 0.67, but in reality, it resembles a dead cat bounce.
1. Three major technical pitfalls!
1. Clear indication on the volume chart: Volume 186,372, but the 5-day average volume is 283,543 and the 10-day average volume is 259,931!
2. The moving average system reveals danger, key detail: The current price of 0.67 is already deeply trapped in the moving average quagmire (MA5/MA10 corresponding prices are far higher than the current price).
3. MACD harbors ominous signs, as price highs continue to decline (0.8410→0.7400), yet the volume is shrinking—typical formation of a bearish divergence, short bullets are loaded!
2. News on-chain double-edged sword attack!
1. Firm evidence of fundraising pressure: Clearly marked fundraising at the bottom, combined with on-chain alarms—over a million ADA is flooding into Binance/OKX! It's clear that the whale is sharpening its knife.
2. The broader environment worsens: BTC/ETH leads the sell-off, under the shadow of interest rate hikes, altcoins are always the sacrificial lambs!
Remember! The market doesn't believe in tears! I am Chan Zhong Tan Zen, top technical support, serving only those with vision and ambition!
