$ADA Long Liquidation: $5.22K at $1.0441
What Happened?
A long position worth $5.22K on Cardano (ADA) was liquidated at $1.0441.
This signals selling pressure as the price failed to hold above critical levels.
What’s Next?
1. Price Direction:
If ADA drops further, the next support is $1.035.
A bounce above $1.05 could push ADA toward $1.07 resistance.
2. Market Sentiment:
Long liquidation highlights weak bullish momentum.
Bears may dominate if ADA stays below $1.045.
3. Key Indicators to Watch:
RSI: Oversold conditions may suggest a potential rebound.
Volume: High selling pressure could drive prices lower.
4. Trade Strategy:
Short Strategy: Look for entries below $1.04.
Long Strategy: Enter only if ADA reclaims $1.05 with strong buying volume.
Why It Matters:
Long liquidations often trigger a price drop, creating new opportunities for traders to ride the trend.
Stay sharp—ADA’s next move could be critical!
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