ADA

Daily Chart Analysis

As a result of analyzing the daily chart of ADA coin, the recent price trend shows a downward trend. The price is moving below the 30-day moving average (MA), which is a short-term bearish signal. The RSI (Relative Strength Index) is below 30, indicating that it has entered an oversold state. The MACD (Moving Average Convergence Divergence) is currently positioned below the signal line, suggesting the possibility of further declines. The trading volume over the past few weeks has increased sharply, which may indicate strong pressure for price reduction.

Looking at the weekly chart, it is trading between the 50-day and 200-day moving averages, but considering the continuity of the downward trend, further declines are expected. The current formation of two peaks (high points) and troughs (low points) is unclear, so it is advisable to maintain the current position.
Another positive signal is that the lower Bollinger Band on a time basis provides support, and the recent coin is approaching this range. However, if this support level breaks, there is a concern that the price may decline further.

External Factor Analysis

Recent news affecting ADA shows a prominent overall decline in the digital asset market. In particular, macroeconomic factors such as the possibility of interest rate hikes in the United States are negatively impacting the market. Additionally, as concerns about cryptocurrency regulation grow, investor confidence is weakening. Against this backdrop, negative market sentiment towards ADA is forming, and many investors are feeling selling pressure.

Furthermore, there have been recent updates on blockchain and improvements in smart contract functionality, but these factors have not had an immediate positive impact on the price. Therefore, it may be a better choice to sell the coin in the short term.

Thus, it is necessary to take a cautious approach considering the possibility of further declines, and continuous monitoring is required.