Cardano (ADA) Drops 39% After US Crypto Reserve Listing
The post Cardano (ADA) Drops 39% After US Crypto Reserve Listing appeared on BitcoinEthereumNews.com.
Cardano (ADA) is facing intense selling pressure, dropping nearly 10% in the last 24 hours and almost 29% over the past week. Since its inclusion in the U.S. strategic crypto reserve, ADA has fallen 39%, struggling to regain bullish momentum. Indicators like BBTrend and DMI show that bearish sentiment remains strong, with sellers still in control. If the current downtrend continues, ADA could test key support levels, but a reversal could push it back toward major resistance zones. ADA BBTrend Shows the Selling Pressure Is Getting Stronger Cardano BBTrend indicator is currently at -19.52, continuing its decline since yesterday. Earlier this month, from March 5 to March 8, BBTrend remained positive, reaching a peak of 31 on March 6. This shift from positive to negative territory suggests a weakening bullish trend, with increasing downside pressure on ADA price. Traders are now watching whether this decline continues or if ADA can regain momentum. ADA BBTrend. Source: TradingView. BBTrend, or Bollinger Band Trend, is an indicator that measures price trends based on Bollinger Bands. It shows whether an asset is in a strong, bullish, or bearish phase. When BBTrend is positive, it suggests strong upward momentum, while negative values indicate growing selling pressure. With ADA’s BBTrend now at -19.52, it signals increasing bearish sentiment, suggesting the price could continue declining unless buyers step in. If the downtrend persists, ADA may test key support levels in the coming days. Cardano DMI Shows Sellers Are Still In Control Cardano Directional Movement Index (DMI) chart shows that its Average Directional Index (ADX) has risen to 34.5, up from 26.6 yesterday. This increase suggests that ADA’s current trend – whether bullish or bearish – is gaining strength. Given that ADA is in a downtrend, the rising ADX indicates that selling pressure is intensifying, making it more…
Filed under: News - @ March 10, 2025 11:28 pm