{"id":823715,"date":"2025-02-02T07:13:27","date_gmt":"2025-02-02T13:13:27","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/02\/02\/cardano-ada-eyes-0-70-amid-bearish-trends-on-chain-insights\/"},"modified":"2025-02-02T07:13:27","modified_gmt":"2025-02-02T13:13:27","slug":"cardano-ada-eyes-0-70-amid-bearish-trends-on-chain-insights","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/02\/02\/cardano-ada-eyes-0-70-amid-bearish-trends-on-chain-insights\/","title":{"rendered":"Cardano (ADA) Eyes $0.70 Amid Bearish Trends, On-Chain Insights\u00a0"},"content":{"rendered":"
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\"Cardano<\/figure>\n<\/div>\n
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The overall cryptocurrency market appears to be bleeding. In the midst of this market downturn,, ADA, the native token of the Cardano blockchain, is poised for a notable price decline. This bearish speculation for ADA is based on recent price action, overall market sentiment, and traders\u2019 strong bearish outlook.<\/p>\n

Cardano (ADA) Technical Analysis and Key Levels\u00a0<\/strong><\/h2>\n

According to CoinPedia\u2019s technical analysis, ADA has confirmed its bearish trend by retesting the breakdown of its ascending trendline. However, the altcoin is currently finding minor support at the $0.90 level. Based on recent price action and historical momentum, if ADA <\/a>closes a daily candle below $0.90, there is a strong possibility it could decline by 15% to reach $0.70 in the future.<\/p>\n

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Source: Trading View<\/figcaption><\/figure>\n

Despite this bearish outlook, the altcoin is still trading above the 200 Exponential Moving Average (EMA) on the daily timeframe, indicating that the asset remains in an uptrend.<\/p>\n

Rising Bets on Short Positions\u00a0<\/strong><\/h2>\n

Following this bearish price action, traders are strongly betting on the downside, as revealed by the on-chain analytics firm CoinGlass<\/a>.<\/p>\n

According to on-chain data, short-sellers are currently dominating the asset and could liquidate bullish long positions.<\/p>\n

The data shows that the $0.95 level acts as strong resistance, with short-sellers being over-leveraged at this level, holding $9.65 million worth of short positions. Meanwhile, the $0.88 level serves as strong support, where bulls are over-leveraged, holding $6.30 million worth of long positions.<\/p>\n

<\/a>
Source: Coinglass<\/figcaption><\/figure>\n

These statistics show that short-sellers are currently controlling the asset and have the potential to drive ADA\u2019s price.<\/p>\n

When combining traders\u2019 interest with technical analysis and price action, it appears that ADA could decline to the $0.70 level in the coming days.<\/p>\n

Current Price Momentum<\/strong><\/h3>\n

ADA is currently trading near $0.913 and has experienced a price drop of over 3.50% in the past 24 hours. However, during the same period, due to bearish market sentiment, traders\u2019 and investors\u2019 participation has declined by 22% compared to the previous day.<\/p>\n<\/div>\n

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\n Chandan Gupta<\/p>\n","protected":false},"excerpt":{"rendered":"

The overall cryptocurrency market appears to be bleeding. In the midst of this market downturn,, ADA, the native token of the Cardano blockchain, is poised for a notable price decline. This bearish speculation for ADA is based on recent price action, overall market sentiment, and traders\u2019 strong bearish outlook. Cardano (ADA) Technical Analysis and Key<\/p>\n","protected":false},"author":1,"featured_media":823716,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25713,25047],"tags":[],"class_list":{"0":"post-823715","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bearish","8":"category-cardano"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/823715","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=823715"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/823715\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/823716"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=823715"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=823715"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=823715"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}