The clearing alarm for $ADA has sounded!
The price of ADA (Cardano) has just surged to $1.066, resulting in a loss of $147,000 for those who shorted it, and their short positions have vanished. This is significant; the market is about to change!
What's going on? It's simply that there are more buyers pushing the price of ADA up, breaking through an important resistance level. Those who shorted it saw the situation worsening and quickly closed their short positions to avoid further losses.
This clearing indicates that the price of ADA is gaining momentum, and everyone is buying, fearing they'll miss the opportunity to make money.
Now, there are a few prices we need to watch:
One is $1.080, which is a tough barrier; if it breaks, those who shorted it will be in even worse trouble.
Another is $1.050, which the bulls need to hold as a bottom line; if they can't hold it, this upward trend might come to an end.
Ultimately, we're all watching the target of $1.100; if it breaks, the bull market for ADA will heat up again!
Why is this so important? Because this large-scale clearing indicates that the market sentiment has shifted; those who shorted have lost a lot of money, and now the bullish momentum in the market is strong! Let's wait and see what good shows are coming next!
In the crypto space, if you don't have a good circle or access to first-hand news from the crypto world, then I suggest you follow me. Brother Pao is waiting for you in the circle, ready to help you make a profit, and you're welcome to join the team!!!
