Cardano (ADA) Shows Moderate Gains Amid Market Stability – Crypto Data Space

ADA Records Slight Daily Increase

Cardano (ADA) has recorded a moderate positive movement, currently trading at $0.449, representing a 0.9% increase in the last 24 hours. The coin’s daily trading range has fluctuated between $0.4296 and $0.4529, reflecting moderate volatility and relative market stability.

Over the past week, ADA has posted a 3.2% gain, suggesting a stronger recovery compared to the broader cryptocurrency market. However, when looking at a 14-day timeframe, Cardano has experienced a 3.8% decline, highlighting some pressure on longer-term performance. With a market capitalization of approximately $16.4 billion and a 24-hour trading volume of $975 million, ADA shows steady positioning within the market, indicating that it may be preparing for potential further price action.

Technical Analysis and Key Levels

Cardano is currently testing crucial support and resistance levels, as indicated by Fibonacci retracement zones on the daily chart. ADA is slightly below the 23.6% Fibonacci retracement at $0.4597, which serves as an immediate resistance. On December 3, bulls attempted to breach this level but faced resistance around $0.455, resulting in a modest pullback.

The next major resistance sits at the 38.2% Fibonacci level near $0.5044, marking a key threshold for any potential upward continuation. On the downside, a failure to maintain current levels could see ADA testing the 0 Fibonacci level at $0.39, with a further potential drop toward $0.35.

The MACD indicator shows a slight increase in green bars, hinting at positive momentum, although confirmation from price action is needed before a decisive trend emerges.

Cardano Liquidation Overview

Recent liquidation data provides insight into leverage positions and market pressures. In the last 24 hours, approximately $1.24 million in Cardano positions were liquidated. Most of these liquidations occurred in long positions ($702.52K), suggesting that traders expecting upward movement are facing losses. Meanwhile, short positions accounted for $535.37K, showing that bearish traders also encountered pressure.

On shorter timeframes, 12-hour liquidation activity reached nearly $495K, split between $270.98K from shorts and $224.01K from longs. These competing pressures are likely to influence whether ADA trends toward a bullish breakout or experiences a deeper retracement in the near term.

Cardano (ADA) Shows Moderate Gains Amid Market Stability