• ADA’s recovery has stalled at the $0.3 resistance level.
• The US SEC labeling of Cardano [ADA] as security is weighing on its price performance.
• Buyers are exhibiting signs of exhaustion at $0.3, which could cause a move back to the support level of $0.26.
Cardano’s Recovery Pain Point
Cardano (ADA) is currently stuck at the roadblock of $0.3, with the H4 market structure in a bearish grip – what’s next? The US Securities and Exchange Commission (SEC) labeled Cardano [ADA] as a security back in early June, causing its value to drop from around $0.38 to $0.22, representing over 40% loss in its value. Despite attempts of price reversal due to Bitcoin’s sharp recovery, ADA has still not managed climb above the $0.3 mark yet.
Buyers‘ Exhaustion At The Roadblock
The H4 market structure (as well as D1 price chart) were both bearish at the time of writing; unless there was a surge past the $0.3 mark, it seemed unlikely that any bullish sentiment would arise from this point on. To make matters worse for bulls, they have been rejected four times already at this key resistance level – indicating buyer exhaustion and making it difficult for them to push past and reclaim lost ground beyond this point in order to get back into positive territory again.. As such, sellers may be able capitalize on this situation and extend their gains further down towards the support level of $0.26 if these bearish conditions persist for much longer than expected or desired by buyers/bulls hereon out..
Technical Indicators & Funding Rates
Relative Strength Index (RSI) and Money Flow Index (MFI) had both eased above median levels; MFI was showing sideways movement in particular – implying a likely narrow price consolidation below this roadblock until Monday (July 3rd), when we should see some clarity rising out from this current impasse within ADA’s trading activity/price action going forward from then onwards.. Meanwhile Capital Movement Flow (CMF) was still sitting above zero – signifying positive capital inflow coming into play for Cardano hereon out.. With regards to funding rates however; they had wavered since 10th June across Binance exchange – curbing a strong recovery capable of breaking through ADA’s current pain point ($0 .30). Although sentiment was still negative hereon out, weighted sentiment had started rising once more again recently too – suggesting some potential improvements within ADA’s outlook ahead soon enough hopefully too!.
Buying Opportunites For Bulls
Should bulls manage survive these tough conditions prevailing right now still; then they will either need to wait for another retest of 0$ .26 support or else look towards getting involved again following pullback retests upon breakout from their current roadblock ($ 0 .30).
In conclusion then; given all factors considered so far above today – it looks like bulls may be stuck at an unfavorable junction right now concerning their near-term prospects within ADA’s ongoing trading activity/price action hereon out unfortunately still…