Cardano’s native token has been dancing in the moonlight this month with a 15% surge lighting up its charts. 🌙 Yet the bulls are stumbling as shadows creep closer, and one sharp analyst has flagged red signals that might drag it lower fast.
Is The Drop Coming Next? 💀
ADA kicked off August with a confident stride after big wallets grabbed over 240 million coins in just days. The price climbed toward $0.21 before easing back to the current $0.187 mark. Meanwhile, a certain chart watcher points to a sharper fall ahead because whale counts between 1 million and 10 million ADA slipped from 2,370 down to 2,340. This hints at some larger holders cashing out after the pump. 🖤
His next warning comes from a death cross forming on the MVRC ratio against its 7-day moving average, which screams fading strength and higher odds of a deeper slide. The TD Sequential also just flashed a sell cue on the daily view. If these line up, expect ADA to test $0.17 first as mid-channel support, or even slip toward $0.144 if the floor breaks.
This suggests some large holders may be taking profits or redistributing after the recent price increase.
— Ali (@alicharts) link
Extra Shadows To Weigh 🕸️
Just days back Grayscale pulled its ETF filings for several altcoins including ADA, delaying any big demand boost whales had hoped for. On the brighter side though, recent outflows from exchanges have beaten inflows as holders move coins into cold storage and ease sell pressure right away.
The asset’s RSI has also plunged to 25, landing deep in oversold zones where dips often turn into sneaky buys instead of more pain. Anything above 70 would have been the real red flag here.
Grayscale just withdrew its ETF filing for ADA among others.
— CoinBureau (@coinbureau) link
Just another echo from the void by iconofsin.eth 💖
