Ada, the native token of Cardano’s blockchain, draws significant attention from crypto enthusiasts after the decision of an asset manager to file a fund negotiated by Cardano (ETF) in the United States. This development has aroused notable interests among traders and investors, which led to a significant rise up.
Cardano (ADA) losing his gain
While the overvoltage of the market pushes the ADA almost a level of crucial resistance, the asset has started to undergo massive sales, which lowers its price – another disappointment for traders and investors today.
Despite the recent drop in the price of the ADA token, the asset has recovered its upward trend as it exceeds the exponential mobile average (EMA) over the daily time. In addition, today’s notable sale pressure has not had a significant impact on the feeling of investors, because long -term holders seem to accumulate the token.
Current price momen
ADA is currently negotiating almost $ 0.77 and has increased more than 11% in the last 24 hours. However, the asset has reached an intraday summit of $ 0.815 with a gain of 16%, but the market lost a large part of these gains, probably due to the reservation of current profits and the current market feeling.
Nevertheless, the participation of merchants and investors reached the higher level, increasing by more than 120% during the same period.
ADA Action Price
According to an expert technical analysis, ADA is at a crucial level of resistance of $ 0.85, where he has faced resistance today.
Based on the recent price action, if ADA continues to rally and inflicts the level of $ 0.85, closing a daily candle above, there is a strong possibility that it can mount 32% to reach the level of $ 1.13 in the future.
ADA’s main liquidation zones
Currently, traders adopt a mixed approach. At present, the major liquidation zones are nearly $ 0.734, where traders occupying long positions are over-deposed, with $ 18.80 million in long positions. Conversely, $ 0.826 is another level of liquidation, where the traders occupying short positions are over-designed, with $ 18.20 million in short positions.
During the combination of these chain metrics with a technical analysis, it seems that long -term holders accumulate tokens, while intraday traders take advantage of the current market feeling.