Daily News 19

Tag: ADA price

  • Cardano Price Holds $0.20, But Critical Level Could Decide ADA Recovery

    Cardano Price Holds $0.20, But Critical Level Could Decide ADA Recovery

    Cardano Price Holds $0.20 Support Amid Bitcoin Volatility, Faces Key Resistance at $0.26-$0.28

    Cardano ($ADA) has gained 2.42% over the past 24 hours, accompanied by a 2.5% rise in Open Interest, signaling renewed derivatives activity. The altcoin is up 17.7% over the past month, outperforming many peers despite Bitcoin ($BTC) slipping back below the $80,000 mark after a brief rally above it.

    Technical Structure: Bullish Momentum Meets Overhead Supply

    On the weekly chart, $ADA has climbed above the 20-week Moving Average at $0.198 and flipped it into support. However, the price remains trapped below a critical $0.26–$0.28 supply zone that has capped advances since May. The $0.2887 swing high from May must be decisively breached to confirm a sustainable long-term uptrend.

    Despite the monthly gains, the Chaikin Money Flow (CMF) on the weekly timeframe reads -0.10, indicating capital outflows and fading buying pressure over the past week. This divergence between price strength and money flow warrants caution for longer-term holders.

    Swing Structure and Short-Term Outlook

    The market structure turned bullish in June when price broke above the prior lower high at $0.1849. Since then, $ADA has held above the 50-day moving average, maintaining a bullish bias on the daily timeframe. Yet, the asset has failed to print a new high above $0.258 over the last two weeks, stalling at the May supply zone.

    Trading Levels to Watch

    • Upside target: A break above $0.26–$0.28 could trigger the next leg higher, with $0.2887 as the key level to flip for trend confirmation.
    • Profit-taking zone: Swing traders may consider scaling out near $0.26, where resistance has repeatedly rejected price.
    • Invalidation level: A daily close below $0.20 would signal a bearish shift and undermine the recent recovery narrative.
    • Long-term opportunity: If $0.28 flips to support, it may present a higher-timeframe buy zone for positional investors.

    Summary

    Cardano shows strong recent momentum but faces a pivotal supply zone that has halted progress twice. While the weekly structure remains constructive above the 20-week MA, declining CMF readings suggest waning capital inflows. Traders should monitor the $0.26–$0.28 region closely — a clean break could unlock the next rally, while failure may lead to a retest of $0.20 support.

  • Cardano Hits 10,166% Liquidation Imbalance as ADA Price Tests $0.20 Support

    Cardano Hits 10,166% Liquidation Imbalance as ADA Price Tests $0.20 Support

    Cardano’s ADA token is facing a critical test at the $0.20 price level amid a sharp imbalance in leveraged liquidations.

    Cardano recorded $1.17 million in liquidations over the past 24 hours, according to Coinglass. Long positions accounted for $1.16 million of the total, while short positions represented $11,410.

    The imbalance between long and short liquidations reached 10,166%, showing that leveraged long traders bore the overwhelming majority of losses. The concentration of liquidations on one side of the derivatives market could contribute to increased volatility if ADA breaks decisively out of its current range.

    ADA is down 3.66% over the past 24 hours at $0.20 as the broader crypto market weakened over the weekend following Fed Chair Kevin Warsh’s hawkish remarks at the Jackson Hole event. According to CME FedWatch, the probability of a September rate hike rose to 42% from 35% a day earlier.

    Warsh’s speech had been closely watched because the Jackson Hole event has often provided an opportunity for Federal Reserve leaders to prepare markets for significant policy changes.

    Cardano has extended its decline from last Saturday’s high of $0.259 and is now down 9.27% on a weekly basis. ADA fell from a high of $0.218 yesterday, catching bullish traders off guard, as reflected in the predominance of long liquidations.

    ADA is currently attempting to hold support at $0.20. Traders will be watching the outcome of that effort closely in the coming sessions.

    Cardano Dijkstra Development Gains Momentum

    According to Intersect, development work for the Dijkstra era is progressing across node development, protocol parameters, supporting infrastructure and node diversity. Upcoming node releases are expected to enable early testing of Dijkstra functionality.

    Node 11.1 is currently in pre-release, while Node 11.2 is expected within the next two to three weeks and will include the Plutus V4 ledger interface. The update is expected to provide greater visibility into Dijkstra and support early testing of its capabilities. However, it should not be considered the hard-fork-ready release.

    The feature-complete 11.3 release is expected in the months ahead. The overall Dijkstra delivery timeline continues to be assessed in relation to the node release schedule.

    In the meantime, stake pool operators can continue participating in Leios development on the Musashi testnet, with a rewards program announced earlier this month.