Cardano (ADA) remains steady over the past 24 hours, while major cryptocurrencies show volatile movements. Technical analysis suggests potential significant price changes if the coin breaks out of the current consolidation.
Consolidation and Predictions
Cardano is consolidating between $0.695 and $0.75. A breakout of the upper boundary may lead to a 12% increase, while a drop below $0.69 could see it falling to $0.65.
Current Market Position
Currently, ADA is trading near $2.42 with a slight decline of 0.50% over the past 24 hours. However, there is a 40% increase in trading volume, indicating increased trader participation.
Major Liquidation Levels
Traders appear bullish, betting heavily on the long side. Currently, there are $17 million in long positions and $3 million in short positions, pointing to an optimistic outlook for ADA.
Despite the ongoing uncertainty and volatility, Cardano continues to capture trader interest, with many assessing its potential for significant price moves.
