What stands out to me about $ADA isn’t 0.17, but the contradiction between two indicators. The RSI is at 29.92, and the price is below the 7-, 20-, 50-, and 200-day moving averages, meaning the technical picture is negative from every angle. But 57% of the supply is staked, reducing the amount available for sale.
The problem is that the risk doesn’t come from natural selling, but from the 67.9% of positions that are still long. Futures data shows $30.1 million in sell positions versus $26.9 million in buy positions, meaning liquidations have already begun. If the decline continues, these positions will be fuel, not protection.
0.17 is the dividing line. A clear close below it opens the way to 0.16, then 0.1436. Above, the levels are 0.18, then 0.19.
I don’t think 0.17 will hold, because oversold conditions mean nothing when the fuel is crowded long positions. A close above 0.18 invalidates this outlook.
This is analysis, not advice.
If you found this post useful, we’d appreciate your support with a like 👍
#ADA #Cardano #BinanceSquare
The problem is that the risk doesn’t come from natural selling, but from the 67.9% of positions that are still long. Futures data shows $30.1 million in sell positions versus $26.9 million in buy positions, meaning liquidations have already begun. If the decline continues, these positions will be fuel, not protection.
0.17 is the dividing line. A clear close below it opens the way to 0.16, then 0.1436. Above, the levels are 0.18, then 0.19.
I don’t think 0.17 will hold, because oversold conditions mean nothing when the fuel is crowded long positions. A close above 0.18 invalidates this outlook.
This is analysis, not advice.
If you found this post useful, we’d appreciate your support with a like 👍
#ADA #Cardano #BinanceSquare
