$ADA USDT - Short squeeze before falling to 0.22
$ADA USDT , after breaking through the global support zone of 0.275 and updating its lows to 0.22, entered a phase of correction and consolidation below key levels. Another short squeeze could trigger a decline.
Bitcoin is falling after a correction, which generally indicates a weak market and increases bearish pressure on the market. I recently said that Bitcoin would fall even lower, as global targets have not yet been achieved, so against this backdrop, altcoins may react accordingly.
Any corrections and volume spikes can be seen as a hunt for liquidity and quickly sold off.
$ADA has been strengthening since the session opened and is showing strength against a weak market (top gainers). There are no fundamental reasons for growth, and technically, the market is heading towards a zone of interest.
Resistance levels: 0.2688, 0.276, 0.284
Support levels: 0.243, 0.2200
From a medium-term perspective, the altcoin has not yet tested the global support level hidden behind 0.22 - 0.2167, formed in 2023. A retest and short squeeze of the resistance zone could trigger a decline towards the target
#ADA #bearishmomentum #TrendingTopic
