Crypto 350

06/21 09:38

Cardano Price Under Pressure with Bears Tightening

#World Cup Predictions: 100,000 USDT Daily #TradFi Trading Strategies Sharing Challenge #HTX Creation Challenge — Post and Win 1,500U 💥 Cardano Price Under Pressure with Bears Tightening Their GripCardano price bearish sentiment is strengthening as ADA’s long/short ratio fell below 1 and futures open interest dropped to $348 million, signaling weaker trader confidence. On-chain data points to capitulation, with Santiment’s NPL metric showing investors are increasingly selling ADA at a loss. ADA remains in a downtrend, with $0.148 emerging as the key support level that traders are watching amid ongoing selling pressure. Cardano price kept dropping in mid-June. The price of ADA soared over the past 24 hours to $0.16, then fell by over 2% as of the 18th of June. The ADA futures long/short account ratio is approaching 0.9, according to CoinGlass. A value below 1 indicates that more contracts are being held short than long. ADA crypto futures open interest has also decreased to approximately $348 million, which is approximately a multi-week low. The bearish trend continues as on-chain analytics show Santiment’s Network Realized Profit/Loss dropped on June 17. That suggests many holders are exiting at a loss. All these indicators are a combined sign of strong selling pressure on Cardano price. Cardano Price: Derivatives Data Signal Growing Bearish Sentiment In the derivatives market, Cardano traders are taking a cautious stance. CoinGlass data shows ADA’s long/short ratio at 0.96 on June 19, its lowest level in over a month.

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