The price of Cardano$ADA has increased by 18% over the past week, but signs of trend exhaustion are already visible. Let's analyze what to expect next.
The price of Cardano (ADA) reached a peak at around $0.93 and then dropped to $0.86. Currently, the price is holding on weak support and could break it at any moment, as traders are taking profits and the bullish momentum is weakening.
A chasm will open below $0.749
At the level of $0.749, long positions of traders amounting to $34 million are concentrated. These investors are betting on the growth of ADA, using borrowed funds to increase potential profits. However, if the price continues to decline and breaks this critical level, a mass liquidation of positions will occur.
