Cardano Price trades for $ 0.6797 if the crypto market witnesses Sunday. Over the weekend, ADA price fell from 3.34% to $ 0.69 to $ 0.6764.
Despite the decline, Cardano keeps its land from crucial dynamic support, acting as the last line of defense. Namely, the sign is an important crossroads indicated by the elevated bullish activity of the ADA derivatives, which reflects increased confidence.
Does this growing self -confidence help bring the price of ADA to the market or is the setback to $ 0.55 inevitable?
Cardano Price has a key 50d SMA support in the middle of the market drop in the middle
Its Cardano price Fluctuate between a diminishing 100-50-day simple moving middle line. Within the falling trend, Ada's price is now trying to lower the lower limit, warning of possible breakdown.
However, lower price rejection and recovery of 0.50% recovery are tempted by bullish reversing. In the last 7 days, the price of ADA has fallen by almost 4%as it could not maintain more than $ 0.70.
In addition, increased sales reflect the Fibonacci level of $ 23.60 to $ 0.76, with a strong effective impact on the overall cost zone. Its increased sales pressure results in the merger of MACD and signal lines.
Currently, both average lines are nearly 0.00811, referring to potential bear crossover. This triggers the sales signal by increasing the possibility of the distribution value.
Based on the lowest base of the previous swing, the distribution rally can be re -done if the psychological support of the 0.60 -Dollar is decomposed. If the wider market recovers and the Cardano Bullish sentiment survives, the rise is likely to exceed the vital endurance to $ 0.7,673.
This increases Cardano's possibility that it reaches $ 1, which is 50% trend -based Fibonacci. As a result, price lessons are traders waiting for a bullet to $ 1, the initial trigger is $ 0.7673.
Massive rise in long positions bullshit tease the reversal
Despite the weekend rebound, bullish confidence in the price of Cardano is growing in the derivatives market. According to CoingLass dataAda's long/short relationship shows a massive increase in long positions.
Over the past 4 hours, the steep rise has reached 70% of all open positions in long positions, leading to 2.40 long-term ratio. This reflects a strong bullish confidence in Cardano, despite the setback.
In addition liquidation card The ADA-USDT trading pair reflects the possibility of mass elimination as the increase continues. Based on the data, the cumulative short eradication of a highly important delivery zone of high accuracy to up to $ 0.70 causes $ 4.44 million.
It consists of $ 169,000 in $ 25x and $ 779,000 in $ 50x. On the valve side, the potential setback shakes up to $ 0.66 for more than $ 2.33 million for long liquidation.
AI TestNet Hype can't keep the rally
At the weekend, Cardano's price instantly reached $ 0.70 threshold as AI power network testing By Charles Hoskinson. The announcement showed the AI-support test network for the Cardano Leios protocol to dramatically increase the permeability of the transaction.
In addition, it prepares a network for post -quantum cryptographic standards and deals with scale problems. But the news could not permanently create a bull in ADA prices. However, innovation strengthens Cardano's long -term outlook as a future block chain.
Frequent questions (FAQ)
Cardano has fallen by 3.34% and has the current market price of $ 0.6797.
Due to the broader rebound of the market, ADA Price's decline warns with a steeper correction with a 50-day SMA distribution.
ADA derivatives show optimism among traders, as long positions rose to 70% in the last four hours.
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Obligations: The content presented may include the author's personal opinion and is subject to market conditions. Do your market research before investing in cryptocurrency. The author or publication is not responsible for your personal financial loss.
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