Whale turning leads to market crash
Hidden sparks in the oversold zone
ADA's life-and-death situation hangs on the edge of 0.63!
Technical Analysis:
Only when it falls through can there be a rebound
Price and Bollinger Bands: Currently at 0.6952, struggling in the median zone between the recent high of 0.8643 and the low of 0.6186, close to the Bollinger lower band (around 0.64), which is an oversold area, with strong demand for a short-term rebound. However, if it breaks the key support of 0.66, it may trigger a series of liquidations, pushing towards the psychological level of 0.60.
MACD and RSI: Although MACD has formed a golden cross below the zero axis (but buying momentum is starting to wane), RSI has dropped to 39.15 (near the oversold zone), and historical data shows that the probability of a rebound after extreme oversold (RSI ≤ 22) exceeds 80%. Initial bullish divergence appears—new price lows, but indicators do not follow, suggesting exhaustion of bears.
News:
Whale defection + event catalyst double-edged sword
Capital Migration: ADA 'whales' are collectively turning to the AI asset management platform Unilabs (raising over $2.4 million) due to Cardano's slow technological upgrades and lack of short-term explosive points. Capital diversion intensifies selling pressure!
ADA Conference Countdown: The global diabetes conference (ADA) will be held on June 20, where Chinese pharmaceutical companies will announce new GLP-1 drug data. Note! This ADA is not the same as that ADA, but the coincidence of names may trigger retail investors to follow the hype, leading to expected short-term emotional fluctuations.
Long-term Scenario: The Plomin hard fork (governance upgrade) in January 2025 remains a potential positive, and the huge bets by whales may be a rehearsal for this event.
If you currently feel helpless and confused about trading, and want to learn more about cryptocurrency-related knowledge and first-hand cutting-edge information, click on my profile and follow me; you won't be lost in this bull market!
