The post Cardano Price Nears Key Level as $109M Shorts Face Liquidation appeared first on Coinpedia Fintech News
Cardano price is trading at $0.8697, with a modest 24-hour gain of 0.37%. Its market cap has inched up to $31.07 billion, while daily trading volume rose by 2.75% to $1.34 billion. With prices ranging between a low of $0.8465 and a high of $0.8752 in the last day, ADA’s short-term movement suggests consolidation.
However, the on-chain signal shows a massive cluster of short positions, worth over $109 million, poised for liquidation if ADA climbs toward $0.99. So, wondering what your entry and exit zones are? Read this ADA price analysis for all specifics.
The liquidation heatmap shared by indicates that the total short liquidations on major exchanges, including Binance, OKX, and Bybit, total ~$109.15 million near the $0.99 level. If the ADA price approaches this mark, traders holding leveraged short positions could face forced buybacks, creating upward momentum.
Exchange-specific data shows liquidation clusters at Binance ($164.5k), OKX ($55.1k), and Bybit ($126.5k). The concentration of short positions above current levels suggests that any bullish breakout could accelerate sharply if this liquidity zone is triggered.
The 4-hour chart shows ADA trading just below the midline of its Bollinger Bands, around $0.867. The upper band near $0.896 and the lower band around $0.824 define a narrow trading range. This is while the RSI reading near 49 indicates a neutral market with neither strong bullish nor bearish momentum.
Cardano price will need to stay above the $0.824 support region to avoid further downside pressure. Clearing the $0.896 resistance level could open the door for a test of the $0.99 price zone. A decisive breakout above that level would likely attract fresh buying interest, with the next target area falling between $1.022 and $1.20.
It’s where $109M worth of short positions are at risk of liquidation, potentially fueling a price surge.
It signals a neutral market with no clear overbought or oversold condition, suggesting sideways price action.
Support lies near $0.824, while resistance is around $0.896. A strong move above these could send ADA toward the $1.022–$1.20 range.
