Cardano (ADA) and Shiba Inu (SHIB) are struggling with lower price movements and selling pressure in the crypto market. ADA is struggling to hold the $0.568 support level despite being in a bearish trend. Shiba Inu lost value with a decrease of 13%. Both cryptocurrencies have high rates of loss-making investors.
Loss-Making Investors and Selling Pressure
The term out-of-the-money (OTM) is used for owners of assets whose price is below the market price. 50% of ADA owners and 28% of Shiba Inu owners are at a loss at current prices. This shows that if prices rise in the future, investors will sell to make a profit, which will increase the selling pressure.
Technical Status of ADA and SHIB
ADA's March price movements have fallen to $0.568 with multiple tests of the support level and there is a possibility of further decline. It is stated that if ADA exceeds the $0.8 level, selling pressure may increase. Shiba Inu is similarly low in trading volume and has been unable to break through certain support levels, indicating that it too should be careful of bearish areas.
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