The slump dragged ADA below $0.70, and the eighth-largest cryptocurrency was exchanging hands at 0.66 at press time, according to
Trading volume for the coin dipped below $1 billion on the 16th of March, AMBCrypto noticed using Santiment’s data. The lack of trading interest coincided with a further drop in ADA’s investor sentiment.Martinez predicted that if history repeats itself, ADA could consolidate in the $0.55 — $0.80 range, followed by a jump to $1.70.AMBCrypto examined some other technical indicators to gauge ADA’s status in the market.
The Relative Strength Index was below the neutral 50 at press time. Typically, the 40-50 zone acts as a support during the bull market. An upward bounce from this zone could rekindle bullish narratives.The Moving Average Convergence Divergence crossed from above to below the signal line, signaling a potential start to the bear market.In line with the overall market apathy, whales too swam away from ADA, as demonstrated by a significant reduction in transactions valued at more than a million.
Source: Digital Coin News (digitalcoinnews.net)
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