$ADA Cardano Liquidation!
104,000 long positions were just liquidated at $1.039, causing a shock in the market! The bulls wanted to make a push, but the bears were too ruthless, showing no mercy whatsoever.
Liquidation details: Asset is Cardano (ADA), position size $104,000, liquidation price $1.039. The market sentiment is dire, the bearish momentum has pushed ADA below the critical support level.
What's going on? Many traders thought $ADA could hold the $1.04 mark, waiting for a rebound. As a result, a fierce sell-off directly broke the support level, triggering a chain liquidation. The $104,000 position was sacrificed on the front lines, and the bearish wave intensified, causing market confidence to collapse.
The impact on the market is significant:
Increased volatility: Traders are busy adjusting their positions, and ADA's price is like a roller coaster. Strong bearish pressure: Once $1.04 is breached, the next support level at $1.00 is at risk. Large psychological impact: With such a large liquidation, traders may be hesitant to go bullish in the short term.
What's next for ADA? The $1.00 level is now critically important; can the bulls regroup for a counterattack, or will ADA continue to fall? Traders need to be cautious, as significant volatility is expected in the short term. This market shows no mercy; risks need to be managed carefully, and always be prepared.
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