Cardano (ADA) Price Prediction for February 22
Despite a significant decline in price drop in the cryptocurrency market, Cardano (ADA)’s stability and stability exceeds the critical $0.74 support level. Additionally, the ADA’s four-hour chart appears to be mirroring XRP’slooks bullish.
Current price motivation
Currently, ADA is trading close to $0.77, down 3.25% in the past 24 hours. However, its trading volume soared 45% over the same period, indicating an increase in traders and investors’ participation.
Cardano (ADA) bullish and bearish levels
Despite market volatility, the $0.74 level will play a key role today. Based on the recent price momentum, this level will determine whether the ADA will sink or upward.
On the positive side, if the ADA holds this level, there is a high possibility that it will reach $0.85 in the next few hours. Additionally, if the bullish rally continues, you may get another 20% of $1.01 in the coming days.
On the bearish side, if the ADA fails to maintain the $0.74 level and closes the candles below it for four hours, it is likely to drop 10% to $0.65.
In addition to this smaller price range, expert technical analysis also shows that ADA has been forming an ascending triangle pattern similar to XRP over the four-hour time range.
ADA inflow worth $1.45 million
As reported by the Analytics Corporation, investors and long-term holders have cashed in on the shares from the recent price momentum and Bybit’s $1.4 million cryptocurrency hack. Small shop. Data from spot inflows/outflows suggests that the exchange’s inflows valued at $1.45 million in ADA tokens over the past 24 hours, indicating a potential sell-off.
In bearish market sentiment, even a small inflow or sell-off can affect overall sentiment, increasing sales pressure and further declines.
