Cardano (island), despite being in the extreme sale zone has not been able to get rid of sales pressure. While the decrease -oriented investors are dominated by the market, negative funding rates show that this pressure continues. If the island price rises to $ 0.77, millions of dollars of short positions can be liquidity.
CARDANO investors are at risk
According to liquidation maps, if the island price reaches $ 0.77, there is a risk of closing a short position of $ 5.79 million. This shows that declining investors take an aggressive position and increase sales pressure.
However, the general situation of the market may not fully comply with this scenario. If the purchase -oriented volume increases, the closure of short positions with the rise of the island price may trigger a larger upward movement. This may cause a short -term price explosion in the market.
Technical indicators point to excessive sale
Technical analysis indicators reveal that the island is in the over -selling zone. The relative power index (RSI) fell to this level for the first time in the last six months, which is often associated with short -term price recovery. Although the RSI shows that RSI to such low levels shows that the existence is over -sold and that sales pressure may be reduced soon, this is not always considered a definite rise signal.
However, the island did not always show a strong rise in similar conditions in the past. Therefore, investors need to be careful when waiting for a big price movement. Unless the general aspect of the market has changed, the rise of the island may be limited.
Short -term expectations for Cardano
The island lost 25 percent last week and fell to $ 0.71. He has currently found support at $ 0.70, but a strong purchase pressure is required to increase the price again.
If the island may exceed $ 0.77, it may be possible to rise to the price to $ 0.85. However, in order to reach $ 1, market conditions need to improve significantly. If the level of $ 0.77 cannot be exceeded, the price of Cardano may continue to be traded in a narrow range between 0.70 and $ 0.77.
