Cardano’s ADA TOKEN has fallen from $ 0.789 to $ 0.581, experiencing a six -day price drop. This decline suffered more than 26% of the sales pressure last week. However, Cryptocurrency discovered stability at $ 0.58, which has been a major support in recent price measures. The price behavior of the ADA in the press time indicates the formation of a triangular triangle pattern.
This pattern is low at $ 0.58 and is characterized by a rejection of $ 0.823 at 0.382 Fibonacci Retression level. Ascending triangles suggest that Cardano tokens were integrated within a harder range and ripened for brake out. Meanwhile, the support of $ 0.58 has already maintained the price of tokens, which is important for the next movement of cryptocurrency.
Cardano indicators match the $ 0.58 support area.
Murrey Math Lines indicators are on the ‘powerful pivot, reverse’ area of $ 0.586, which is an area that the ADA suggests a change in propulsion power. This zone acts as a pivotal point where the price of tokens often integrates or reverses the direction. In fact, the price was pushed to $ 0.632 by providing a strong foundation for ADA cryptocurrency.
Meanwhile, the relative strength index (RSI) reads 30.90, which signals the overflower. Historical data shows the price reversal of similar RSI positions, and suggests that there is a possibility of repetition of the past patterns, strengthening the case as possible.
You can see the main level of ADA
In an optimistic scenario, the ADA can challenge the intermediate resistance to $ 0.704 at the 0.236 Fibonacci reversal level, and perhaps the 0.382 fibonacci level can reach $ 0.823. Beyond this resistance, you can check the optimistic anti -war strength, leading the price of the cryptocurrency to $ 0.920 and matching the 0.50 return level and pushing more than the last $ 1.00 critical value on January 26.
From a weak point of view, if you do not raise the level of support of $ 0.58, rest under the low triangle of triangle can occur, and the weak momentum for sending signals is sustained. This allows ADA to return to $ 0.512 lasted on February 3rd. If the price reaches the bear’s goal and marks green, investors can use the price accumulation and enter the advantage, so you can offer the ideal opportunity in a long location.
ADA liquidation map signal weakness pressure
Meanwhile, the current ADA Exchange liquidation map suggests that the weakness is dominant in the market. According to CoingLass Warm chainThe cumulative $ 22.9 million long liquidation leverage at a market price of $ 0.564 represents a significant vulnerability in a long location. If the price continues to fall, these long liquids can accelerate the downward exercise.
The $ 15.5 million cumulative short liquidation at a price of $ 0.702 suggests that a short position is still under pressure, but this is much higher than the current price level. This difference indicates that short liquids are unlikely to induce immediate price behavior. That means that the bear is still controlled.
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