Cardano (ADA) faces intense volatility as holders dump their coins amid market shifts. This massive sell-off has impacted the ecosystem within the last 24 hours following the start of a tariff war among the top global economies. Notably, ADA showed signs of recovery, climbing to $0.7055 before the current sell trend emerged.
According to CoinMarketCap data, trading volume has spiked by 83.52% to $1.15 billion. This surge in trading volume, combined with the crashing price of ADA, confirms the current bearish trend.
This might have been triggered by investors looking to offload their holdings and take profits before ADA plummets further. The rising volume also suggests that some Cardano whales might have decided to offload their bags to prevent huge losses.
As U.Today reported, a top trader, Ansem, had predicted that ADA could record a 50% price crash. According to Ansem, Cardano has become stuck in a downtrend, giving sellers control each time the price attempts a rebound.
With the current market developments, it looks like ADA is threatening to lose a significant amount of the gains it has already made.
ADA has declined by 15.2% in the last seven days as bearish pressure prevents it from stabilizing.
As of this writing, Cardano's price was changing hands at $0.6220, an 8.88% decrease in the last 24 hours. Before this decline, ADA found support at $0.63.
However, with that level breached, market participants might have to look at the $0.58-$0.50 range as a significant support level.
The current selling volume, over 80%, might help predict ADA’s next price trajectory. If the volume drops amid further decline, it could mean that holders are exhausted and unwilling to sustain the bearish trend.
Such a development could see Cardano chart a solo and decisive rally ahead.
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