Main to remember
ADA could fall by 6.5% if it closes a daily candle below $ 0.90. The long -term negotiation volume reached a five -month higher 6.96 billion dollars, referring to the growing interest in the asset.
There were four consecutive days of lateral movement for Cardano (ADA), but the interest of traders for the assets has skyrocketed. The sharp drop in prices prompted Ada in a makeup or breakup situation.
Current price and record increase in future
On August 18, Cardano’s price slipped by 3.5%, reaching the lower limit of consolidation at $ 0.91.
Despite the sharp drop, the participation of investors and merchants increased, the commercial volume increasing by 12% compared to the day before.
Not only that, a well -followed crypto expert shared data on the chain showing that ADA’s long -term trading volume reached a five -month summit of $ 6.96 billion.
This substantial increase in the long -term volume reflects a strong interest and confidence between traders as well as institutions, potentially opening the way to a parabolic decision.
Although the price is consolidated in a tight range, the tip of the trading volume indicates a possible change in market activity.
At the same time, the expert has also noted in an article that the TD sequential technical indicator is now flashes a purchase signal, referring to a rebound in coming price.
Cardano: price action and technical analysis
The technical analysis of Ambcrypto reveals that the ADA price of Cardano oscillates in a tight range between $ 0.90 and $ 0.96 in the last four days.
During this period, each time the asset touched the lower border, he experienced a momentum, a movement that could potentially repeat in the coming days.
Source: tradingView
On the daily graphic, it is not yet confirmed if this sudden fall will lead to a new movement down, but this would only be possible if the lower limit is broken.
If ADA closes a daily candle below the level of $ 0.90, there is a high possibility of decrease of more than 6.65%, the price dropping potentially at $ 0.835.
On the other hand, if the price holds this level, it could repeat history and reach the brand again of $ 0.969.
However, a major rally would only occur if the asset bursts above the upper limit of $ 0.969, which could trigger an increase in the price of 28%.
Although the ADA is in a brand or rupture situation, the Superrend indicator is still in green and hovering above the price, which suggests that the asset remains in an upward trend.
Mixed feeling of metric chain flashes
Given the current feeling of the market, long -term investors and holders seem to accumulate tokens and take advantage of the drop in prices.
The data of the Coinglass chain analysis tool show that, in the last 24 hours, $ 25.94 million from ADA have been moved from exchanges, suggesting potential accumulation.
This could help to reduce the momentum downwards and restore the purchase pressure.
Source: Coringlass
The merchants closely follow the current trend by betting strongly on the lower side. Currently, the main levels of liquidation are at $ 0.876 on the lower side and $ 0.928 on the upper side, where traders are over-deposed.
