The past month has not been smooth for Cardano (#ADA ) 😓
The entire market was conservative in June, and ADA was no exception.
📉 Sellers are pressing all the way, buying pressure is weak, and demand is not keeping up!#Strategy增持比特币
Although Bitcoin (#BTC ) fluctuated a bit last weekend, bringing a little sunshine to the market 🌤️, its boost to ADA was very limited.#Solana质押型ETF
🔍 Not just ADA, all altcoins are struggling.
You are not alone! 😭
From TOTAL2 (total market cap of all cryptocurrencies excluding BTC), altcoins have been stuck under the $1.25 trillion 'ceiling' since February and have not been able to break through.
Mid-June was even worse:
💥 Bitcoin attempted to break through, but due to tensions in the Middle East, market panic ensued, leading to a collective sell-off of altcoins, and even BTC fell back below $100,000.
This round of correction has doused cold water on the altcoin market, causing market sentiment to shift from cautious to pessimistic.
ADA naturally suffered as well.
📈 ADA: Is there a short-term improvement? Is the opportunity coming?
Although the overall trend is still weak, ADA has shown a slight improvement in the short term:
✅ Bounced back from $0.51 over the past week
✅ And set a higher 'low' at $0.545
👉 If it can break through $0.594, it may attract more buying pressure!
Technical indicators also have some 'good news':
🔸 RSI (Relative Strength Index) rebounded after hitting a new low, indicating bearish momentum is weakening.
🔸 OBV (On-Balance Volume) has also started to rise slowly, indicating that some buyers have quietly entered the market 🕵️♂️
💡 Where is the target price? How to operate?
If the trend remains strong, ADA is expected to rebound to:
🎯 $0.62 or $0.65 region
BUT! Please pay attention ⚠️:
📉 The overall structure is stilla downtrend.
💔 At the beginning of June, it plummeted from $0.73, and market confidence has not fully recovered.
🤖 So if going long, it is recommendedto trade quickly for short-term, and set proper take profit and stop loss!
📌 Summary: Short-term opportunities vs long-term risks.
🔹 In the short term, ADA is trying to build a bottom and rebound
🔹 But the overall trend is still bearish, and long-term funds have not returned significantly.
🔹 So it feels more like a 'super oversold rebound window' rather than a clear reversal.
Going long on ADA now is like riding a bike against the wind 🚴; you might be able to push through for a while, but don’t ride too long!
What do you think of ADA's trend?
📉 Is it a rebound trap, or is a turning point starting to appear? Feel free to discuss in the comments below 👇
✍️ DYOR, manage risk well, and may everyone set sail in the crypto world! 🌊
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