Cardano (#ADA ) Price Observation

Short-Term Trend (15-Minute Chart)

ADA has recently slightly tightened within a downward channel, indicating limited price fluctuations.

RMI Indicator: 47, neutral to stable, traders are mostly waiting for confirmation signals before taking action.

The VWAP midpoint of $0.85 has become a support level, and the upper and lower channels are gradually narrowing, explaining why ADA's decline has only resulted in slight pullbacks.

Daily Trend

Structural signals (BOS & ChoCH) have appeared, and the market is somewhat complex.

ADA has recently formed a weak high near $0.90.

Support level is at $0.846 (close to the 20-day & 50-day moving averages).

If it breaks below $0.846, it may reach the liquidity pool at $0.749.

Maintaining above $0.846, the short-term trend remains constructive.