The Market Trend Has Recently Shifted Downward
Explore the recent market analysis of ADA in the 4-hour timeframe, revealing a shift from an upward to a downward trend, marked by the breaking of significant support levels and indicating a potential continuation of the downtrend.
4/13/20241 min read
In the 4-hour timeframe of ADA, we previously observed an upward trend, which warranted the drawing of an ascending trendline.
However, the market trend has recently shifted downward, confirmed by the breaking of the first significant support, known as the blue box.
This area, previously recognized as the main support, has failed to prevent a price drop, resulting in a significant decrease in Cardano's price.
Given these conditions, the downtrend is expected to continue, and any price increases should be considered temporary and minor.