Recent performance of ADA has sparked deep reflection in the market. The current situation presents a paradox: although technical indicators show oversold signals, the actual market movements are unfolding as an internal purge without real counterparties.

From a capital perspective, signs of main force retreat are obvious. Data shows that in the past 4-hour and 12-hour cycles, short positions' liquidations are near zero, while long positions' liquidations approach $200,000, creating a severe asymmetry. This is not a victory for the bears; instead, it resembles a collective stampede by the bulls—downward movement evolving into a pure internal exhaustion battle.

Emotional division is even more noteworthy. On Crypto.com, short positions account for as much as 93.4%, while on other platforms, long positions still hold the advantage. This fractured market consensus indicates participants lack a unified expectation for the future. In this state, any rebound could simply become a "dying struggle" for high-level buyers.

From a technical structure standpoint, key support levels are gradually being breached. The 0.400 barrier may be completely broken through, and the deeper support at 0.3750 represents the natural resting place of the trend. ADA's recent adjustment essentially reflects the market's shift from optimistic expectations to realistic correction.

The core of trading always lies in probability. In this high-risk, low-certainty environment, calmly observing and waiting for clearer signals is often wiser than blind participation.