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$ADA Guys, ADA is trading around 0.165 right now. It spiked to 0.1687 just before, and then immediately got tightly pinned down by the 4-hour MA99 moving average. The market structure is clearly being suppressed by the bears, and this is a low-volume washout!
Even though today ADA has a positive catalyst from the Van Rossem upgrade, the label that the broader trend is down 80% year-over-year hasn’t been removed yet, and the short-term long momentum is already almost melting. Remember to guard against a dog-poacher using the good news to flip and insert a needle for a huge spike upward!
For the short term: the overhead ceiling resistance is around $0.169–$0.170. The downside floor support is around $0.158–$0.159. If it breaks below, it heads to $0.150 for defense.