In the weak market sentiment, Cardano’s (ADA) price prediction has become a key topic among traders when evaluating the next movement of the asset. This has caused the overall market sentiment to the ADA token due to the failure of integration.
Cardano (ADA) price behavior and upcoming level
According to expert technology analysis, the ADA has finally changed to weak and is ready to continue the price drop. This change in emotion follows the failure of the integrated stage that ADA has experienced between $ 0.69 to $ 0.75 for several weeks.
Based on the recent price behavior and historical momentum, there is a possibility that the price drop is 5%until the ADA reaches $ 0.625. On the other hand, if the decrease continues and the candle is finished below $ 0.622, it is likely to decrease by 30% until the price of ADA reaches $ 0.425.
Currently, ADAs are traded below 200 index moving average (EMA) over the day, indicating weakness and weak price measures for assets.
Current price momentum
Despite these fluctuations, the ADA is currently dealing with nearly $ 0.66 and has fallen prices over the last 24 hours. On the other hand, during the same period, the volume of assets decreased by 30%, lowering the participation of traders and investors compared to the previous day.
Major liquidation level
The price behavior of this weakness and continuous decline, the trader’s market sentiment still does not change as it continues to prefer the weakness.
According to the data from CoingLass, a whole chain analysis company, the trader is less than currently overwhelming, the main level is $ 0.655 at the bottom and $ 0.696 at the top. They built a short position worth $ 36 million and a long and short position of $ 148 million worth $ 148 million.