$ADA$ HYSTERIA (CONTINUED)

Yet hope springs eternal! A return into the channel would signal a resurgence of bullish energy, suggesting the previous dip was nothing more than a bearish decoy. A burst past $0.39 might even trigger a buying frenzy.

Ever since it hit its peak in September 2021, ADA has been on a 21-month slide, with only four months of this period showing a glimmer of green on the candlestick charts.

With 83% of Cardano addresses languishing in the red, and a mere 11.44% poised to turn a profit at current prices, it's a grim scene. Meanwhile, transaction volumes are soaring while ADA prices plummet - a trend that points to a possible wholesale sell-off.