Overview
- ADA fell about 7% on Nov. 20, losing a key weekly trendline and dropping toward the $0.40 area after giving up its last higher low near $0.48.
- Benzinga’s technical read points to a measured move toward the $0.32–$0.36 zone, with the intraday channel allowing room for a $0.38 test.
- Spot weakness intensified with $4.82 million in net outflows on Nov. 20, marking a fourth straight negative day without a sustained positive-flow print.
- Derivatives risk remains elevated as open interest hovers near $742 million, long–short ratios skew bullish on major venues, and roughly $1.76 million in mostly long liquidations hit over 24 hours.
- Earlier on-chain pressures included a dormant 14.45 million ADA swap that realized a steep loss and broader whale distribution exceeding 440 million ADA, even as Santiment’s 30-day MVRV flags an extreme buy zone and Midnight’s Dec. 8 NIGHT launch is watched as a potential catalyst.