As per #ADA Daily Chart Technical Analysis
On daily price chart ADA (Cardano) under the "#DeathCross " situation.
A death cross occurs when the 50-day Simple Moving Average (SMA) drops below the 200-day SMA.
The death cross is a warning into the market is about to head into a tail spin.
ADA's 50-day and 200-day SMA's crossed bearishly over the weekend, confirming the first death cross since Dec. 2021 as per Trading Chart Analysis.
The moving average crossovers are backward looking and considered unreliable as standalone indicators.
