ADA shows weakness

3 thg 2, 2023

Price action is getting weaker with smaller bodied candles along with reducing volume. Resistance above where a large supply would dampen any momentum and absorb all demand easily! The 200 EMA being a resistance doesn’t not support the bullish narrative! A drop will probably take us back to the lows of December for a potential double bottom, but I think this maybe the last of Cardano bear before proper accumulation starts!