Ah, dear reader, gather ’round as we delve into the curious case of Cardano (ADA), which, much like a cat on a hot tin roof, is currently perched precariously above the 64-cent mark, yet the winds of momentum are decidedly bearish. 🐻
Key Support levels: $0.64, $0.45
Key Resistance levels: $0.90, $1.3
1. ADA Hovers Above Key Support
In a world where volatility reigns supreme, ADA has found a cozy little nook at 64 cents, like a cat finding a sunbeam. This level has held firm, keeping the sellers at bay, much like a well-placed fence keeps the sheep from wandering off. However, the momentum is as cheerful as a rainy day, with lower highs and lower lows suggesting that pressure may soon return to our dear support. ☔️
2. Sellers Dominate
Once upon a time, in a land not so far away, a certain Trump made a grand announcement about the US Crypto Strategic Reserve. The news sent ADA soaring above $1, as if it had sprouted wings. But alas, like all good things, this too was fleeting, and the price has since returned to its humble abode, indicating that the rally was merely a mirage in the desert of market speculation. 🏜️
3. Weekly MACD Remains Bearish
As we peer into the crystal ball of the weekly MACD, we find that nothing has changed since the bearish cross of late January. Even the most fervent tweet from Trump could not alter the course of this downtrend. It appears that a reversal is as distant as a unicorn in a traffic jam. Should our support at 64 cents falter, we may soon find ourselves visiting the land of 50 cents. 🦄🚦
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2025-03-11 10:41