Ada, the native token of Cardano, remains stable after a major change in the feeling of the market after the daring declaration of the secretary of the Treasury Scott Bessent. The ADA price is stable near a key support level of $ 0.635, keeping it in a brand or rupture area.
Current price momen
At the time of the press, ADA is negotiated nearly $ 0.657 and recorded a modest increase of 0.50% in the last 24 hours. However, during the same period, the volume of negotiation of the asset jumped by 10%, indicating increased participation of merchants and investors compared to the day before.
Cardano (ADA) Action of prices and levels to come
With his consolidation in progress between $ 0.635 and $ 0.682, ADA’s price remains close to the level of key support of $ 0.635, where he held last week. According to an expert technical analysis, the price should remain in this narrow beach until it breaks down or breaks down from consolidation.
Based on historical models, if the ADA price hits the upper limit of the area and closes a daily candle greater than $ 0.69, it could rise by 20% to reach the bar of $ 0.85 in the future. On the other hand, if ADA hits the lower limit of the area, its price could crash, potentially drop from 25% to 28% and reach its key support to $ 0.45.
This ADA prices analysis shows that current consolidation plays a key role in determining ADA’s future levels.
$ 8.15 million in stock market bets
Looking at the structure of the ADA market, the traders seem to be strongly strewn on the short side, according to the Coinglass chain analysis company.
The data reveal that the traders are currently over-discussed at $ 0.648 on the lower side, where it built a value of $ 4.21 million in long positions. Meanwhile, $ 0.674 is another overhanging level on the upper side, where traders have built a value of $ 8.15 million in short positions.
These oversized positions reflect the current feeling of the market, which seems to be lower, but a clearer image will only emerge once the consolidation phase that breaks.
