ADA's recent performance is quite interesting. After recovering from a 20-day rebound, it has now initially broken through the 50-day moving average, which is a good signal. If this momentum continues, the next target is the 100-day moving average.

From the daily chart, the downtrend may be nearing its top. More importantly, we are starting to see higher lows, which usually indicates that bullish momentum is building. In the short term, the $0.49 level is very likely to become a recent trading target.

Of course, technical analysis is only one aspect. Whether it can truly stabilize at these key levels also depends on subsequent trading volume. But based on the current candlestick patterns, the case for going long seems more convincing.