Cardano dey face strong resistance for $0.3968 as long positions suffer heavy liquidations
Cardano (ADA) start di new year under renewed bearish pressure, dey trade near $0.33–$0.35 with volatility don increase and 24-hour volume jump 37%. Short-to-medium technicals dey negative: 7-/14-/30-day returns show declines (~5.1%, ~7.1%, ~12.7%), daily Supertrend dey bearish with resistance at $0.3968, and Chande Momentum Oscillator read -26.63, meaning weak momentum. Immediate support dey at $0.33, with deeper support zone near $0.30 if that level break. Liquidation data show concentrated long-liquidations across multiple intervals — $20.58K (1h, all longs), $141.79K (4h), $171.73K (12h) and big $3.91M in 24h (mostly longs) — signaling recent forced selling pressure. Earlier coverage note broader downtrend and Supertrend resistance band near $0.41–$0.42 and suggest say break below $0.34 fit open targets toward ~$0.33. Traders should watch two triggers: decisive close above $0.3968 Supertrend to confirm trend reversal and rebuild buying pressure, or decisive break below $0.33 (or $0.30) to increase short-term downside risk. This report na informational, no be financial advice.
Bearish
Di combined report dem dey show say ADA dey under continued bearish pressure. Technical indicators (daily Supertrend bearish, momentum readings negative) and falling multi-period returns dey signal short-to-medium term downtrend. Concentrated long-liquidations — especially the big $3.91M in 24h wey mostly hit longs — mean forced selling fit quicken the downside and make volatility increase. Immediate support for $0.33 na the key short-term risk level: if e hold, consolidation fit happen, but if e break sharply e go fit open move to $0.30 and bring more selling. On the other hand, you need a sustained close above the $0.3968 Supertrend resistance to change market structure to bullish; without that breakout, the news mean continue downward pressure. So, the near-term price impact on ADA likely bearish.