Note: Trend is still bullish
- Tenkan (green) and Kijun (pink) lines are far apart
- Price has closed well below Tenkan and now has retraced back up to it
- C-clamp short setup are active now due to two conditions above
- Price is likely to gravitate towards Kijun before continuing the trend (indicates healthy retracement)
- Once price reaches Kijun, look for long...
ADA has been in a downtrend since multiple failures to close above magical $0.1
Recently it has broken down from its D1 ichimoku cloud.
Next support is $0.6 which is basically fully retracing the broken ascending triangle.
Annotations in chart for more details.
P.S.: Not a financial advice.