$ADA Cardano Short Liquidation Update

A significant short liquidation of $1,360.1K was recorded at $0.975, indicating potential volatility ahead. Here’s a detailed analysis and trading strategy:

What’s Next for ADA.

This liquidation shows strong market movement, possibly triggering a price shift. If ADA continues to build momentum, a breakout or retracement may follow.

Technical Levels.

Buy Zone.

$0.940 to $0.970: A safe entry range for accumulation if ADA dips to test support levels.

Targets

Target 1: $1.05 (short-term resistance).

Target 2: $1.12 (next major resistance).

Target 3: $1.20 (if bullish sentiment grows).

Stop Loss.

Place a stop-loss at $0.915 to minimize risks in case of unexpected downward movement.

Reasons Behind Liquidation.

1. High Leverage Positions: Shorts got liquidated due to sudden price movement.

2. Market Sentiment: Strong buying pressure near $0.975 triggered a liquidation.

3. Support Zone Retest: ADA respected key support, showing potential for reversal.

Pro Tips for Trading ADA.

1. Monitor Bitcoin’s (BTC) movements, as it often influences ADA.

2. Look for volume confirmation before entering trades.

3. Use small positions to avoid high risk due to current market volatility.

Disclaimer.

This is not financial advice. Always do your research and trade responsibly.

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