Cardano (ADA) Price Prediction for February 26
Cardano blockchain’s local token Ada is expected to carry out massive price recovery through its current market structure and price action. After a sharp decline and a continuous strong red candle pushed the ADA to a crucial $0.65, traders believe it failed to hold that support. However, assets form green candles, changing market sentiment.
The reason ADA maintains this level is due to its long history of price reversals and the significant buying pressure of $0.65.
Current price motivation
However, the price has begun to recover because fennel The four-hour chart witnessed two large green bullish candles, indicating a potential price rebound.
The asset is currently trading at nearly $0.69, down more than 0.85% over the past 24 hours. However, during the same period, its trading volume soared by 85%, with traders and investors increasing participation compared to the previous day.
Cardano (ADA) technical analysis and upcoming levels
According to expert technical analysis, the ADA appears to be recovering and forms a separate Morning Star Candlestick style on the four-hour chart, indicating upward movement. According to recent price action and historical patterns, if the ADA holds above the $0.65 level, it is very likely that the assets will reach 21% in the next few hours to reach the $0.83 level.
ADA’s technical indicators further support this bullish price action, which flashed bullish divergences on the daily schedule, indicating a potential price recovery.
However, although it doesn’t seem to see, if sentiment changes and prices fall, falling below $0.65, it could drop 30% to reach the $0.45 level.
Main liquidation level
Judging from the continuous price recovery, traders’ sentiment has begun to shift as they build their positions for a long time after constantly placing their bets on short terms, as reported by Chain Analytics.com Small shop.
Data from the ADA exchange clearing map shows that traders currently have a leverage of $0.695, a short bet worth $3.7 million, while the Bulls sell for $0.62, which has already established a long position worth $19.5 million.
