📉 Technical Analysis: #ADA $ADA

1. Current Price: $0.5786

2. Immediate Trend:

• The candles are breaking down below the EMA 99 (0.5802), which is usually a bearish indication.

• The EMA 7 and EMA 25 are crossing downwards and pointing down → sign of weakness.

3. MACD:

• The MACD is negative (-0.0012) and the histogram shows red bars → indicates loss of bullish momentum.

4. Volume:

• The volume has gradually decreased, which reinforces the likelihood of a bearish continuation in the short term.

5. Nearest Support:

• The key support is in the 0.5703 area (recent low). If it breaks, it may fall further.