ADA just jumped 10%… but the real fuel might be the traders still betting against it. 👀🔥
$ADA pushed from $0.24 to a 5-month high near $0.27, while spot volume exploded 297%. Then $2.1M in #ADA shorts got liquidated.
But here’s the twist: traders are still heavily positioned bearish. Open Interest jumped 18% to $635M, while the Long/Short Ratio fell to 0.71.
So what happens if ADA keeps climbing?
More shorts could be forced to close, adding fresh buying pressure and potentially pushing ADA through $0.28 toward $0.30.
But $0.24 is the line traders can’t ignore. Lose it, and the setup could weaken toward $0.22.
The squeeze setup is there…
Will ADA trigger another wave of short liquidations and break $0.30❓👀
$ADA pushed from $0.24 to a 5-month high near $0.27, while spot volume exploded 297%. Then $2.1M in #ADA shorts got liquidated.
But here’s the twist: traders are still heavily positioned bearish. Open Interest jumped 18% to $635M, while the Long/Short Ratio fell to 0.71.
So what happens if ADA keeps climbing?
More shorts could be forced to close, adding fresh buying pressure and potentially pushing ADA through $0.28 toward $0.30.
But $0.24 is the line traders can’t ignore. Lose it, and the setup could weaken toward $0.22.
The squeeze setup is there…
Will ADA trigger another wave of short liquidations and break $0.30❓👀
