With the price decreased by 6 % over the past 24 hours, ADA, the original distinctive cardo Blockchain, has reached a major level and is about to significantly decrease in prices. Last week, ADA was combined in a narrow range between $ 0.69 and $ 0.75.
Technical Analysis Cardano (ADA) and upcoming levels
However, due to the descending market address and a significant price decreased, ADA has reached the lower border of the region and is about to get out of this monotheism.
According to expert technical analysis, ADA turned to decline and weakness because it is less than the Si -moving average (EMA) on the daily time frame. Despite the weak direction and landing, if the price of assets drops below the level of $ 0.69, there is a strong possibility that can decrease by 9 % to reach $ 0.64 in the coming days.
However, historically, whenever the Ada price reaches the lower limits of monotheism, it witnesses a bullish move along with the purchase pressure. However, this time, the feelings are completely declining, and the main assets such as Bitcoin (BTC) and ETHEREUM (ETH) affect the total market, which increases the possibility of ADA decrease to the level of $ 0.64 in the coming days.
Current price momentum
At the time of the press, ADA is trading near $ 0.695, and a decrease in the price of 6 % over the past 24 hours. However, during the same period, the asset trading volume jumped by 30 %, indicating an increase in participation of merchants and investors compared to the previous day.
Main liquidation levels
Meanwhile, with the feeling of the declining market and Ada Trading At a decisive level, it seems that the expectations of merchants have turned because they are betting strongly on the short side.
Codinglass company data reveals that merchants are more than $ 0.715, with $ 11.15 million in short positions. However, the bulls are more than $ 0.687, after he built $ 6.51 million in long centers, which clearly indicates that the bears are currently dominating the original.
