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

Around June 30, it fell to 0.145u. This month’s worst period saw it drop by nearly forty percent. During that time, large whales kept accumulating on dips, while on-chain usage kept trending downward—an image that’s pretty split.

On July 18, it completed a hard fork upgrade called Van Rossem, raising the protocol version to 11. Smart contracts are now faster and cheaper, and node security has been further strengthened. The upgrade process went smoothly, but whether it can truly translate into a price increase still depends on what happens next.

RSI has already climbed from the oversold zone back to above neutral, and momentum indicators are improving. However, trading volume remains on the low side, suggesting the market is still waiting for confirmation signals and isn’t willing to enter in size.

Technically, the 0.16u level is now a key support. Only after it holds will there be a foundation to look for a larger-scale reversal later. But it’s still a long way from the higher long-term pressure zone. For now, the short-term focus is whether it can defend this support #直通IPO第二期JerseyMikes $ADA