teena o meatotino: O fa'ai'uga o le au'ili'iliga o lo'o mulimuli mai e na'o le pau lea o manatu o le tusitala ma e le tatau ona manatu o se fautuaga fa'afaigaluega.
After struggling to break the chains of the midline of its up-channel (yellow, dashed), Cardano's [ADA] saw an expected breakdown over the last few days.
This decline fixated its position below the EMA ribbons to reflect a broader bearish momentum. The bulls could now aim to continue the ongoing squeeze before a plausible breakdown. At press time, ADA was trading at $0.4652.
ADA Siata Aso Ta'itasi
Punavai: TradingView, ADA/USDT
After hovering in the lower half of the up-channel for two weeks, ADA snapped its boundary beneath and steered into a bearish track.
This breakdown broke the coin’s squeeze phase to reveal a bearish edge. The movements in the last few days hinted at a bearish flag-like structure in the daily timeframe.
To top it up, the decreasing volume trend during the pattern formation makes the altcoin more susceptible to a potential breakdown.
A compelling close below the $0.45-level could aid the alt in retesting the $0.41-$0.43 range in the coming sessions. So the next few candlesticks could confirm the chances of a continued downtrend.
The bearish crossover on the 20/50 EMA has further reiterated the near-term bearish edge. An eventual close above the 20 EMA would hint at a bearish invalidation.
Faʻavae
Punavai: TradingView, ADA/USDT
The Relative Strength Index (RSI) insisted on its bearish stance after finding support in the 35-region. The buyers must strive to reclaim a spot above the midline to heighten the chances of a comeback.
Also, the south-looking Moving Average Convergence Divergence (MACD) lines plunged below zero after a month to reveal a robust selling edge. Further, the Volume Oscillator’s drop below the zero level revealed a bearish divergence with the price action.
iʻuga
In view of the bearish flag-like structure forming below the southbound EMA ribbons, the sellers could look to exude pressure. ADA buyers must propel a jump above the 20 EMA to invalidate this pressure. The potential targets would remain the same as above.
Ae ui i lea, e tatau i le aufaioloa / tagata teufaafaigaluega ona mataʻituina le gaioiga a Bitcoin ma ona aʻafiaga i luga o le maketi lautele e faia ai se gaioiga manuia.
Source: https://ambcrypto.com/how-ada-short-sellers-can-deploy-this-strategy-to-remain-profitable/