Cardano Experiences Significant Selling Pressure Will ADA Prices Decline Soon
AMBCrypto’s analysis indicates that there is substantial liquidity for Cardano (ADA) between the price range of $0.46 and $0.47, yet the Cumulative Liquidation Levels Delta (CLLD) suggests a potential drop below $0.45.
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Cardano has been showing positive momentum in the cryptocurrency market recently, but on-chain analytics from Santiment reveal significant sell-offs by large token holders. This behavior, particularly from addresses holding between 1 million and 10 million ADA tokens and those with 100 million to 1 billion tokens, could signal a lack of confidence and potentially lead to a price decline.
Despite ADA’s recent price increase of 4.65%, continued selling by major stakeholders may hinder further growth. AMBCrypto also notes the volatility in ADA’s trading patterns, indicating potential price fluctuations in the short term.
Further analysis of the CLLD suggests the possibility of a downward movement for ADA, with a correction at a local top indicating a potential drop below $0.45. The article also highlights the high liquidity levels for ADA between $0.46 and $0.47, suggesting that the price may remain within this range.
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