The total cryptocurrency market appears to be bleeding. In the midst of this stagnation in the market, the ADA, the original distinctive symbol of Cardano Blockchain, is preparing for a significant price decreased. These landfill speculations depend on ADA on the latest prices of prices, the total market morale, and strong traders expectations.
Technical Analysis Cardano (ADA) and the main levels
According to the technical analysis of Coinpedia, ADA confirmed its declining direction by re -testing the collapse of the rising trend line. However, Altcoin currently finds simple support at $ 0.90. Based on modern prices for historical prices and momentum, if ADA closes a daily candle less than $ 0.90, there is a strong possibility that can decrease by 15 % to reach $ 0.70 in the future.
Despite this landfill, Altcoin is still circulating over the SIA moving average (EMA) on the daily time frame, indicating that the original remains in the direction of ascension.
The growing bets on short sites
After this procedure, the main landing, traders are very betting on the negative side, as the analysis company revealed the series Coinglass.
According to the data on the chain, short sellers currently dominate the origins and can filter the long upward positions.
The data shows that the level of $ 0.95 works with a strong resistance, where the sellers are excessive at this level, and it occupies short stipulations of $ 9.65 million. Meanwhile, the level of $ 0.88 works as strong support, as optimization is done, and it operates a long -term stipulation of $ 6.30 million.
These statistics indicate that short sellers currently control the ability to pay the ADA price.
When combining merchants’ interest with technical analysis and price procedures, ADA may seem to decrease to a level of $ 0.70 in the coming days.
Current price momentum
ADA is currently trading near $ 0.913 and has witnessed a decrease in prices to more than 3.50 % over the past 24 hours. However, during the same period, due to the feelings of the Habbiya market, the participation of traders and investors decreased by 22 % compared to the previous day.
