Cardano’s ADA is currently on shaky ground as pressure mounts near a critical support zone at $0.65. Investors feel the tension building, and fear creeps in like fog before a storm. ADA dipped nearly 4% in 24 hours, trading just above that fragile line. As the asset teeters, traders brace for what could be a sharp downward spiral. Many wonder—will ADA bounce back or plunge into a deeper correction?
Longs on the Edge as Bears Take Control
With ADA near $0.657, bearish sentiment continues to strengthen. Trading volume jumped 12%, signaling intensified market activity. This surge suggests growing panic rather than new bullish interest. Short sellers sharpen their claws as long positions begin to tremble. Over-leveraged traders now face a harsh reality. Nearly $5.56 million in long positions hang by a thread near $0.65. Another $10.33 million in shorts crowd resistance near $0.676. The battlefield tightens. If ADA slips past $0.65 and closes below, longs may evaporate in a blink.
According to Coinglass, the liquidation floodgates could open. That support level has acted like a safety net before, but now it frays under pressure. One misstep could send Cardano tumbling 20%, straight to $0.52. Every candle close builds tension as traders refresh charts with clenched jaws. Adding to the pressure, whale activity has dried up. IntoTheBlock data shows a dramatic 83.54% drop in large whale transactions. Even mid-size investors seem to pull back. Those transacting between $1,000 and $100,000 have also retreated by over 60%. Without big money fueling demand, ADA loses a crucial lifeline.