ADA - Failure to LAUNCH, BEARISH Short Term

Hello Traders

Cardano / ADAUSDT is not looking good for the short term after the higher lows trendline has been broken (trendline analysis / support analysis).

The 4h shows a bearish drop with a nasty red candle:


Also, if we consider a technical indicator - the moving averages - the price has fallen far under the 200d MA, for the first time in months. This is not a good sign, unless we can recover towards the upside within a week and stay right under it like a few days ago:


If there is no return to the upside, a coupe of bounce zones we can watch in the near to longer term include :


👋 Thanks for your support
ADAUSDT