CARDANO PRICE ANALYSIS & PREDICTION (February 28) – ADA Advances Bearish With a 5% Daily Loss, Will $0.5 Continue to Hold?
The past few days have been more painful for ADA’s traders following a back-to-back loss since the start of the week. It just extended bearish with another break down, posting over 25% decrease in the past week. Before the latest breakdown, ADA was trading sideways after seeing a small recovery from a recent crash. It tried to resume bullish but failed due to volatility contractions, which later caused a multiple rejection. As supply level increases, the volatility expands to the downside and the price drops. The $0.65 support level failed to contain the selling pressure and the price broke down to the $0.58 level today. This has generated a lot of panic today while sellers continue to take charge. Meanwhile, millions of short positions have been liquidated on the futures. Spot traders are currently counting their losses but are still […]