Cardano (ADA), the 10th-ranked cryptocurrency, is again facing price volatility. This has triggered a staggering 1,512% liquidation imbalance for ADA bulls who were betting on the asset, potentially pushing it to $1 in its ongoing rally.
Cardano bulls lose over $12M as price dips
According to CoinGlass data, in the last 24 hours, long position traders lost $13.08 million as the price slipped, reversing its upward journey toward the $1 level. The price shift caught Cardano bulls off guard, hence the massive loss recorded.
You Might Also Like
Thu, 07/17/2025 - 14:06 Cardano (ADA) to $1 Reality Just Got Closer: Details ByTomiwabold Olajide
As of this writing, Cardano's price was trading at $0.8208, representing a 3.64% decline over the last 24 hours. The asset, which earlier reached an intraday high of $0.8601, plunged rapidly to $0.8008 before regaining some ground.
However, this volatility was enough to wipe out long-position traders in the ecosystem. Meanwhile, short position traders also recorded some losses. Short traders lost $764,060 within the same time frame, bringing the total liquidation to $13,084,060.
A crucial Cardano technical indicator suggests that the asset has slipped into an overbought zone, as its Relative Strength Index (RSI) has reached 78.01. This triggered a pullback as investors decided to take profits.
ADA Daily Price Chart | Source: TradingView
Despite this development, optimism about a continued rally still lingers in the Cardano community, as the price drop has not lost significant ground.
Can DeFi Wallet integration and ecosystem support trigger reversal?
In the broader crypto space, Cardano’s recent integration into Blockchain.com’s DeFi Wallet could support the price outlook. Notably, the move makes ADA accessible to the 37 million users on the exchange, who can easily trade the coin without needing to transfer it to a separate wallet.
You Might Also Like
Mon, 07/14/2025 - 11:56 Cardano Creator Praises XRP Rivals ByGamza Khanzadaev
For Cardano to remain on the $1 path, the trading volume, currently down by a massive 48.02% at $1.72 billion, needs to enter the green zone. Ecosystem’s retail and institutional investors need to push up volume for a possible price reversal.
Cardano has demonstrated impressive performance over the last seven days, with a 13.35% price gain. If it receives ecosystem support, it might retrace its way upward.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
