ADA encounters resistance from the 200-day EMA on the weekly chart.A daily chart reveals a 100 and 200 Day Crossover, driving a 40% price surge.
According to Coingabbar Price Analysis, Cardano maintains support at $0.5500, gearing up for a potential new high.After hitting $0.6500 on December 14th, ADA consolidated within a range.On the daily chart, ADA finds support at the 21-day moving average.ADA breaches the Bullish Pennant Pattern on the daily chart, trading above $0.6500.Despite a surge, ADA struggles to surpass the previous high of $0.6800 from December 14th.Potential bullish scenario: If ADA breaches $0.6800, the price may test $0.7300-$0.9000.ADA's ability to hold the $0.6300 level and pennant support could signal a forthcoming rally.
KEY LEVELS :
RESISTANCE LEVEL : $0.6800-$0.7400
SUPPORT LEVEL : $0.6200-$0.5800
Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.
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BTC's price showed weakness during the past day despite the prevailing market optimism.The crypto market faced significant liquidations of nearly $170 million post-Christmas, triggered by a slight decline in the values of major cryptocurrencies.Data from CoinMarketCap indicates that the largest cryptocurrency by market capitalization, Bitcoin, declined 1.18% to $42,639, reminiscent of its run in the previous week.Similarly Ethereum and other large-cap alternative cryptocurrencies like Tron, Avalanche, XRP, and others recorded slight losses during the reporting period.Conversaly, some digital assets like Binance-backed BNB, high-flying Solana, and ORDI showed strength with gains of 5%, 3%, and 13%, respectively.Solana SOL and ORDI are two of the best-performing digital assets of the current year. These cryptocurrencies have generated much interest and adoption from the crypto community heavily investing in them.$170M liquidatedCoinglass data shows that these asset price movements liquidated $168 million across all assets from more than 70,000 crypto traders during the past day. Long position holders—traders betting on price increases—lost $92.16 million, while traders with bearish sentiments were liquidated $76 million during the reporting period.Across assets, speculators on BTC price saw the most losses of about $26 million within the last 24 hours, with long traders losing $12.48 million and short positions losing $13.03 million. Notably, the most significant single liquidation order was a $3.15 million long BTC position held on BitMEX.Similarly, Ethereum traders faced around $21 million in losses, while Solana traders also lost approximately $24 million, with most losses suffered by long traders.Traders speculating on ORDI price also experienced losses totaling about $22 million. Long traders of the token faced losses of approximately $7.5 million, while those betting against its price lost $13.83 million.Meanwhile crypto traders using the embattled Binance platform accounted for more than 40% of the total losses suffered in the market. The exchange users lost $72.25 million, followed by OKX with $51.65 million.Additionaly traders on Bybit were liquidated for $22.92 million, while Huobi users incurred a total loss of $17.51 million.#BinanceChristmas #BinanceTournament #BitcoinPriceDrop #Osmy_CryptoZ