Wow, Cardano has taken a good hit. It fell 7% from its high yesterday and is now around $0.258. The concerning part is that it broke the 20-day moving average at $0.266, which technically leaves the door open for another 20% drop if there is no reaction soon. 📉
The MFI rose to 60, but the CMF remains in negative territory (-0.05), which means that money is not flowing in strongly. And to top it off, only 10.45% of holders are in profit. In other words, the majority have the red arrow stuck. 🔴
No confirmed bullish reversal for now. We will have to see if it holds or continues to bleed.