Amidst the ongoing market uncertainty, Cardano (ADA) remains stable and appears to be consolidating while other major assets continue to decline. Today, March 19, 2025, after a recent price drop, the asset has reached the lower level of its consolidation range and is poised for upside momentum.
Cardano (ADA) Technical Analysis and Upcoming Level
According to expert technical analysis, ADA has been hovering between $0.695 and $0.75 for the past week. However, with the recent price drop, the asset has reached near the $0.69 level. Based on historical patterns, if the asset continues to hold this lower level, there is a strong possibility it could soar by 7% in the coming hours.
The asset still appears bullish on the higher time frame, whereas on the lower time frame, due to the overall bearish market sentiment, forecasting an upcoming rally seems challenging.
Current Price Momentum
ADA is currently trading near $0.70 and has registered a price surge of 0.20% in the past 24 hours. However, during the same period, its trading volume remains negative, indicating lower participation from traders and investors. Data from CoinMarketCap revealed that ADA’s trading volume dropped by 7%.
Major Liquidation Level
With the bearish market sentiment, traders have a predominantly bearish outlook, as reported by the on-chain analytics firm Coinglass. At press time, traders are currently over-leveraged at $0.679 on the lower side, where they have built $8.10 million worth of long positions. Meanwhile, $0.721 is another over-leveraged level, where they are holding $12 million worth of short positions.
This suggests that bears are currently in control and could create obstacles for an upward move.
