Looking at the 1D chart and it’s a bit of a mess. We’ve been stuck in this nasty downtrend for a while now. Every time we think we found a bottom, it just keeps sliding. Right now we're sitting at 0.2678 and it feels like we’re at a crossroads. The price action is showing some sideways movement lately, which usually means the sellers are getting tired. We’ve got some support around that 0.22 zone where it wicked down before, but we need a much stronger bounce to turn this around. The volume is pretty dry too, only 44M USDT in the last 24 hours, so there’s not a lot of conviction either way. If we can’t break back above 0.30 soon, I’m worried we might just drift lower. I’m staying on the sidelines for now until we see a real impulsive move with some actual volume behind it. Anyone else seeing a potential double bottom forming or am I just dreaming?
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Is $ADA finally ready to stop the bleeding?
Looking at the 1D chart and it’s a bit of a mess. We’ve been stuck in this nasty downtrend for a while now. Every time we think we found a bottom, it just keeps sliding. Right now we're sitting at 0.2678 and it feels like we’re at a crossroads.
The price action is showing some sideways movement lately, which usually means the sellers are getting tired. We’ve got some support around that 0.22 zone where it wicked down before, but we need a much stronger bounce to turn this around. The volume is pretty dry too, only 44M USDT in the last 24 hours, so there’s not a lot of conviction either way.
If we can’t break back above 0.30 soon, I’m worried we might just drift lower. I’m staying on the sidelines for now until we see a real impulsive move with some actual volume behind it.
Anyone else seeing a potential double bottom forming or am I just dreaming?
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