Cardano’s Future Uncertain: Whales Sell, Bears Dominate – BlockNews.com
😲 Key support levels at risk: ADA is struggling to hold support between $0.67 and $0.81, with experts warning that a drop below $0.65 could push the price toward $0.50. Mixed market sentiment: While long-term holders have sold off $4.5 million worth of ADA, traders remain optimistic, with a 1.30 Long/Short ratio and 56.30% of traders holding long positions. Increased trading activity: ADA is currently trading near $0.70, with a 2.55% price increase and
- Key support levels at risk: ADA is struggling to hold support between $0.67 and $0.81, with experts warning that a drop below $0.65 could push the price toward $0.50.
- Mixed market sentiment: While long-term holders have sold off $4.5 million worth of ADA, traders remain optimistic, with a 1.30 Long/Short ratio and 56.30% of traders holding long positions.
- Increased trading activity: ADA is currently trading near $0.70, with a 2.55% price increase and a 60% surge in trading volume over the past 24 hours, indicating heightened market participation.
Cardano (ADA) is grappling with weakening momentum and crucial support levels. On February 11, 2025, a crypto expert highlighted $0.67 and $0.81 as key support zones, warning that losing these levels could trigger further price declines. However, if ADA holds steady here, there’s potential for a strong rebound.
Mixed Market Sentiment: Bearish vs. Bullish Signals
Despite support from critical levels, long-term holders and investors seem wary. Data from Coinglass reveals that exchanges saw $4.5 million worth of ADA inflows recently, indicating a possible sell-off driven by ongoing price declines.
However, intraday traders appear more optimistic. ADA’s Long/Short ratio stands at 1.30, the highest among the top 10 cryptocurrencies. About 56.30% of top traders currently hold long positions, while 43.70% remain short, reflecting strong bullish sentiment among active traders.
Technical Analysis: Potential Downside Risks
According to the expert’s analysis, ADA has fallen below its 200 EMA on the daily chart, signaling a shift into a downtrend. If bearish momentum continues and the price drops below $0.65, ADA could potentially fall to $0.50 in the near future.
Conversely, a sustained hold at current levels might attract buying pressure, leading to a possible rebound.
Current Market Outlook
At present, ADA is trading near $0.70 after gaining 2.55% in the past 24 hours. Trading volume surged by 60%, indicating increased participation from both traders and investors. Whether ADA can maintain its key support zones or face further declines will depend on how market sentiment evolves in the coming days.
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