- With strong weaknesses, the ADA decreased by 15%, reaching $ 0.71.
- According to the entire chain indicator, the exchange has seen a $ 30 million leak from the ADA token.
In the weak market sentiment, Cardano (ADA) is preparing for a decline in price due to the weakening of the daily weakness.
In addition, the superior market sentiment and the weakness of merchants further strengthened this negative outlook.
Merchants lack a lot of ADA
According to CoingLass, a warm -chain analytics company, the trader is now using market sentiment by betting strongly on the short side.
According to the data, the long position is over $ 0.85, with a long position worth $ 4.1 million.
Meanwhile, short sellers appear to be dominant and maintain excessive levels of $ 0.912 and $ 0.926, with a short position worth $ 13.77 million.
Source: COINGLASS
According to this on -chain data, short sellers are three times stronger than traders with long positions. This represents a weak signal.
Investor’s strong view
In addition to traders, long -term holders and investors can see the current market sentiment and accumulate ADA tokens.
According to the data of the Spot Inflow/Leakage, the exchange has witnessed the leak of $ 30 million ADA tokens in the last 48 hours, indicating potential accumulation.
Some experts see this leak as an ideal long -term purchase opportunity.
Source: COINGLASS
When combining such a thermetics, ADA seems to be weak in the short term but maintains a strong strength in the short term, which explains the potential accumulation of investors.
Cardano’s technical analysis and upcoming level
According to AMBCRYPTO’s technical analysis, the ADA seems to be weak because it has successfully resumed the trend trend failure level and started moving to a downward trend.
Source: TradingView
Based on the recent price behavior and historical momentum, the ADA can decrease by 15%, reaching $ 0.71 in the future.
However, the overall market seems to be under pressure due to the strong weakness of merchants. This can further strengthen the weakness of the ADA.