ADA's buying momentum falls as it nears a critical supply zone. Key metrics hint at a breakout, but the RSI raises the risk of decline
While ADA has been trading within a bullish symmetrical channel, momentum is building toward a breakout—but significant supply looms ahead.has seen in stagnation over the past week and month, posting similar gains of 3.65% and 3.69%, respectively. Yet, a shift may be underway, with ADA up 4.94% in the last 24 hours.
This supply zone ranges from $0.3680 to $0.3823, which ADA must break through to reach its target of $0.4158. At press time, Open Interest has risen by 6.49%, reaching $252.62 million. This increase suggests continued bullish momentum, historically correlated with upward price trends.
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