ADA Shows Bearish Divergence, Decline to $0.266 Possible, Per This Analysis
This analyst believes that ADA may face further decline, here’s why
Crypto analyst Ali Martinez has shared a chart with Cardano’s ADA trading against USDT, spotting a bearish divergence and a sell signal on it.
“ADA could dive to $0.266”
Martinez took to Twitter to tell his followers that the TD Sequential indicator shows a sell signal on the ADA/USDT hourly graph as well as on the 4-hour one. There is also bearish divergence against the RSI indicator on the former.
The analyst believes that traders would now start locking in their profits and this may push the coin’s price down to the $0.266 level. ADA is already trading at the $0.27 mark at the moment, the drop to which was also mentioned by Martinez.
#Cardano | The TD Sequential presents a sell signal on $ADA hourly chart while there is a bearish divergence against the RSI.
A spike in profit taking could see #ADA dive to $0.27 or even $0.266. pic.twitter.com/joVXeRDDgA
— Ali (@ali_charts) January 6, 2023
ADA adoption expands to non-crypto business
As reported by U.Today earlier this week, Cardano founder Charles Hoskinson has been adopting ADA payments for his non-crypto business ventures. On Friday, he announced that ADA is accepted as payment in his Hoskinson Health and Wellness clinic. This clinic is focused on regular health care services and on life extension. The latter includes medical treatment, bio food supplements, various types of diet and physical exercise.
Hoskinson tweeted that the clinic will be open for business next month. So far, its staff consists of 10 people, but they are seeking to expand and are hiring more people.
This is not the first non-crypto business launched by Hoskinson. In the summer of 2022, he set up Nessie’s restaurant and a whiskey lounge. He launched it near his ranch in Wheatland, Wyoming. Customers can also pay with ADA there, as well as in fiat currency.
