Amidst the ongoing market uncertainty, Cardano (ADA) remains stable and appears to be consolidating

According to expert technical analysis, ADA has been hovering between $0.695 and $0.75 for the past week.

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 oscillating between $0.695 and $0.75 for the past week. However, with the recent price decrease, the asset has touched nearly $0.69.

If the asset manages to sustain above this lower level, there is a strong possibility of a 7% surge in the coming hours, as indicated by a technical indicator.

The asset is still showing bullish signs on the higher time frame. But on the lower time frame, due to the overall bearish market sentiment, it is difficult to predict an upcoming rally.

Current Price Momentum

ADA is currently trading at around $0.70 and has registered a price increase 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 decreased by 7%.

Major Liquidation Level

With the persistent bearish market sentiment, traders have a predominantly bearish outlook, as reported by the on-chain analytics firm Coinglass. At press time, traders are currently massively leveraged at $0.679 on the lower side, where they have built up $8.10 million worth of long positions.

On the other hand, $0.721 is another heavily leveraged level, where they are holding $12 million worth of short positions.

This suggests that bears are currently in control and could pose challenges for an upward move by the asset.