ADA · 1H · DOWNTREND

Price collapsed from ~0.265 in late May down to the current 0.1611 area — a brutal, sustained downtrend with lower highs and lower lows throughout. After the capitulation spike around June 4-5, price bounced and attempted a recovery toward 0.190, but that rally failed hard around June 15 and price has since rolled back over, now sitting right at the prior lows near 0.1611. This is a dead-cat-bounce structure that has completed and reversed — the bounce high at ~0.190 printed a lower high relative to the ~0.215 pre-crash level, confirming the downtrend is intact. I'm not looking for a long here. The macro news context provided carries zero relevance to ADA, so I'm reading this purely on structure — and the structure says short.

Price is currently sitting right at the 0.1611 lows, which is a zone that has held multiple times since the June 4-5 flush. That makes a market short here less clean — I'd be shorting into a level that's already acted as support three times. My play is to wait for a bounce back into the 0.170–0.175 zone, where the broken support-turned-resistance sits alongside what appears to be a descending MA cluster. That's where sellers have repeatedly shown up. A short from there gives me a defined structural ceiling above and a clear break-of-lows target below.

The news headlines provided are entirely unrelated to Cardano or crypto — no macro context applies here.

Setup: SHORT (conditional — wait for bounce to resistance)

- Entry: 0.1720

- Stop Loss: 0.1790

- Take Profit 1: 0.1560

- Take Profit 2: 0.1450

- Risk/Reward: 2.3:1

- Confidence: MEDIUM