Cardano (ADA) Price Prediction for March 4
Cardino blockchain’s native token Ada has experienced significant fluctuations in the past 48 hours. This price volatility has led to millions of dollars in liquidation, according to chain analytics company Coinglass.
Cardano (ADA) clearing
Data shows that over the past 24 hours, ADA positions worth a total of $400.8 million have been liquidated. In these liquidations, $30 million comes from the far side, while $11 million comes from the short side.
Current price motivation
As a result, ADA’s price has fallen by 25% in the past 24 hours and is currently trading at close to $0.81. Due to the significant volatility of the price, its trading volume fell by 30%, and the participation rate among traders and investors was lower than the previous days.
Cardano (ADA) technical analysis and upcoming levels
As prices drop, the ADA support level is $0.80. According to expert technical analysis, this support level was previously broken during the recent ascent rally. Based on recent price action and historical patterns, if assets maintain this level, it is likely to soar 35% to $1.14. However, if the assets fail to hold this level, assets may fall 20% to $0.65 in the coming days.
ADA outflow worth $110 million
According to Link Analytics, despite market uncertainty, investors and long-term holders appear to be accumulating tokens despite the fact that they are uncertain. Small shop. Data from spot inflows/outflows suggests that over the past 48 hours, the exchange has witnessed the outflow of ADA tokens worth more than $110 million.
When combining these chain boundary indicators with technical analysis, it seems that the Bulls have strongly accumulated tokens for long-term holders.
