Cardanos ada
The token traded at $ 0.6154 Monday afternoon and extended his fall to 5.35% over the last 24 hours. The token fell steadily through several support levels after a sale in the late session began around 22:00 UTC on June 16. Despite a short recovery attempt earlier in the session, the bearish structure remained intact on its way into noon Tuesday.
Correction mirrors wider risk-off behavior across digital assets as global macroeconomic conditions remain tense. Trading disputes and monetary tightening across larger economies have added pressure on the risk markets, pulling ADA and other large capses lower.
Some technical analysts have still pointed to potential signs of a turn in ADA’s structure. A short rejection of $ 0.622 to $ 0.626 earlier in the session formed a small upward sloping channel with the price price of $ 0.624- $ 0.625 tape several times. This area has now emerged as a potential swivel zone, although the volume since is tapered, and the volatility is narrowed.
With ADA trade just over its daily low, bulls stick to stabilization around $ 0.615- $ 0.620. A clear directional step from this can depend on whether this support zone applies and whether wider market conditions are starting to recover.
Technical analysis highlights
- A sharp decline began at. 22:00 on June 16, when Ada broke below $ 0.650 support level on large volume.
- Several failed attempts to recover $ 0.630 created a new resistance band about $ 0.640.
- Lower heights formed with each rejection, confirming downward pressure throughout the period.
- A support zone developed between $ 0.620 and $ 0.622 as volume picked up at these levels.
- Price entered a falling channel with uniform lower heights and lower low lower.
- A short recovery from $ 0.622 to $ 0.626 created an upward-slip microchanal in the middle of rising volume.
- Resistance formed to $ 0.626, with $ 0.624- $ 0.625 area that acts as a turn -protected interval during repeated testing.
- The latest candles showed declining volatility and volume that signalized consolidation near local low.
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