$ADA PRESSURE BELOW MID-BAND – TECHNICAL UPDATE ⚖️
Cardano (ADA) remains under bearish pressure on the 4-hour timeframe. After a short-lived recovery, ADA failed to reclaim the middle Bollinger Band and is now trading below key technical levels, suggesting continued downward risk.
📊 Current Market Data:
▪︎ Price: $0.6287
▪︎ 24‑H Change: −1.43%
▪︎ 24‑H High: $0.6450
▪︎ 24‑H Low: $0.6263
▪︎ 24‑H Volume: ~62.91M ADA / ~$40.03M USDT
🕯Candlestick Behavior:
■ ADA is forming smaller-bodied candles following a drop from the $0.71 zone, reflecting consolidation with weak buying interest.
■ The most recent candlesticks confirm failure to reclaim the mid-Bollinger Band, with lower highs developing.
📉 Bollinger Bands Analysis:
▪︎ Upper Band (UP): $0.7244
▪︎ Middle Band (MB): $0.6633
▪︎ Lower Band (DN): $0.6022
💡 #ADA is hovering close to the lower band, suggesting oversold pressure, but no strong reversal signals yet. A break below $0.602 could lead to a deeper leg down.
⚠️ Volume Overview:
▪︎ Current candle volume: ~6.38M
▪︎ Volume is relatively low compared to previous spikes, signaling weak momentum in either direction.
▪︎ Weekly volume trend is negative, consistent with the broader bearish move:
➡️ 7 Days: −5.06%
➡️ 30 Days: −21.57%
➡️ 90 Days: −16.94%
➡️ 180 Days: −40.62%
🖊 Conclusion:
$ADA remains vulnerable below the $0.663 resistance zone. Without a strong reclaim of the middle Bollinger Band or a significant uptick in volume, the path of least resistance is still downward. Eyes on the $0.602 support—if breached, next downside target may shift toward $0.59 or lower.
Trade cautiously and monitor price action closely on $ADA.
