ADA, the token of the Cardano blockchain, shows potential price recovery after a recent decline. A green candle has appeared, changing market perception.
Current Price Momentum
ADA is trading near $0.69, indicating an initial price recovery after the recent decline. Its price has fallen by over 0.85% in the past 24 hours, but the trading volume surged by 85%, highlighting increased activity among market participants.
Cardano (ADA) Technical Analysis
Experts suggest that ADA shows signs of recovery and forms a bullish 'Morning Star' candlestick pattern on the four-hour chart, indicating a possible price increase. If ADA holds above the $0.65 level, it could rise by 21% to the $0.83 level. However, a close below $0.65 might lead to a 30% decrease to the $0.45 level.
Major Liquidation Levels
Trading activity reveals traders are starting to take long positions. The liquidation map shows $3.70 million in shorts at $0.695, while bulls hold $19.50 million in longs at $0.62.
ADA displays signs of potential recovery despite recent market fluctuations. Traders are watching key support and resistance levels closely.
