Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
The entire cryptocurrency market seems to bleed. In the middle of this market, fall, Ada, Native Cardano Blockchain Token, is ready for a significant price drop. This Ada speculation bear is based on a recent price of prices, a total market mood and a strong bear chance of traders.
Cardano (ADA) Technical analysis and key levels
According to Coinpedia’s technical analysis, Ada confirmed her bear trend again testing the breakup of her ascending trend. However, Altcoin currently finds less support at a level of $ 0.90. Based on the recent price of prices and historical momentum, if Ada closes the daily candle below $ 0.90, it is a great opportunity to fall by 15% to reach $ 0.70 in the future.
Despite this bear’s appearance, Altcoin is still traded above 200 exponential moving average (EMA) in the daily time frame, indicating that the property remains trendy.
Growing bets to short positions
Following this teddy bear price, traders bet strongly, as discovered by an analytics company on the chain Coingling.
According to the chain data, short -term sellers are currently dominated by property and can liquidate long positions.
Data show that the US $ 0.95 acts as a strong resistance, with short -term sellers at this level and own short positions worth $ 9.65 million. Meanwhile, a $ 0.88 level serves as a strong support, where the bulls are excessive, hold long positions worth $ 6.30 million.
These statistics show that short sellers are currently controlling property and have the potential to encourage Ada price.
When combining interest of traders with technical analysis and prices action, it seems that Ada could refuse to a level of $ 0.70 in the coming days.
Current momentum of prices
Ada is currently traded close to $ 0.913 and has experienced a price drop of over 3.50% in the past 24 hours. However, in the same period, due to bear market feelings, the participation of traders and investors decreased by 22% compared to the previous day.
