🚨 Technical analysis for $ADA | Daily frame

🔸 The price is moving within a clear downward trend with continued formation of lower highs and lower lows, reflecting the sellers' control over the overall movement.

🔸 The area 0.28 – 0.30$ represents an important current support, and the price is trading close to it after an extended downward wave, and we may witness a temporary technical rebound as long as it is not broken by a clear daily close.

🔸 In case this area is lost, the decline may extend towards deeper demand areas near 0.24 – 0.22$ where previous buying liquidity is concentrated.

🔸 On the upside, the area 0.38 – 0.40$ remains the first major resistance, followed by a stronger supply area between 0.48 – 0.50$, and any rise towards these levels is considered a correction within the downward trend unless it is broken and maintained above.

🔸 The RSI indicator is moving below the neutral level of 50, indicating weakness in buying momentum and ongoing caution in the current movement.

❗️This is a technical analysis and not an investment advice.