ADA today rose to around 0.175u. Over the past two days, it has been gradually holding steady above the short-term moving averages. It has formed a base above the June low.

Around June 30, it fell to 0.145u. This month’s worst period saw it drop by nearly 40%. During that time, large whales kept buying the dip, but on-chain usage was still trending downward—an image that looks quite divided.

On July 18, it completed a hard fork upgrade called Van Rossem, bumping the protocol version to 11. The smart contracts became faster and cheaper, and node security was also strengthened. The upgrade process went smoothly, but whether it can truly translate into a price increase still depends on what happens next.

Now, the RSI has climbed out of the oversold zone back above the neutral level, and momentum indicators are improving. However, trading volume remains low, suggesting the market is still waiting for confirmation signals and doesn’t dare to enter at scale.

Technically, the level at 0.16u is now a key support. Only if it holds there will it have the basis to look for a larger-scale reversal later. But it’s still far from the higher long-term resistance zone. For now, the immediate question is whether it can defend this support #ada $ADA