Cardano’s Wild Ride: Can ADA Avoid the $0.405 Plunge? Buckle Up! 🚀

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So, the Midnight’s [NIGHT] token launched right when Cardano holders were feeling like they just lost a game of Monopoly-heavy losses, folks! 🥴 But hey, those losses are basically an “extreme buy” signal for Cardano. You know, like when you think about buying that second dessert after all the bad decisions you made at dinner. 🍰

Let’s rewind to a week before December 8th; token prices were doing the cha-cha from $0.37. By December 9th, they pulled a fancy 30.6% leap to $0.484. But then- plot twist! The rally decided it was time for a nap. 😴

And here’s the kicker: the bulls couldn’t muster enough energy to reclaim that long-term resistance level of $0.52. I mean, come on, guys! Talk about a lack of reliable strength. It’s like trying to lift weights after a night out. 🙈

Cardano indicators signal a strong downtrend in progress

On the 1-day chart, that swing low at $0.405 is looking a bit wobbly with sellers circling like sharks at a buffet. 🦈 If it closes below this level, we might be seeing some serious bearish vibes.

And if that wasn’t enough, the $0.37 support level is hanging by a thread. If we break below both, it’ll be like opening Pandora’s box of downtrends. Yikes! 😱

The CMF is showing that selling pressure is rising again, and we’ve got capital outflows that are more dramatic than a soap opera cliffhanger. 📉

Put it all together, and the daily indicators are waving a big red flag that says, “Bearish trend, incoming!” 🚩

The bullish Cardano argument

The 1-month Liquidation Heatmap is like the party planner who tells you where all the fun is happening: there’s a build-up of short liquidations above that recent swing high at $0.48. This could pull prices higher-kinda like that one friend who always insists on going out when everyone else wants to stay in. 🍹

But hold your horses! There’s a bit of a desert between $0.4 and $0.5, and the $0.43-$0.44 pocket could throw a wrench in any quick rally plans. 🛑

Traders’ call to action – be prepared for bearishness

Looking at the daily chart, it seems the structure remains bullish, but those pesky technical indicators and Bitcoin‘s mood swings are making it hard for ADA bulls to catch a break. 😩

Plus, that rally that stalled at $0.48 didn’t even stop at $0.45 or $0.43! It’s like driving your car until it hits empty and hoping for a miracle. 🙄

So, traders, keep your eyes peeled for a drop below $0.405. If that happens and we retest the same level as resistance, it might just be the perfect moment to sell. 🤑

Final Thoughts

  • Traders, brace yourselves! If you’re hoping for a continuation of the downtrend, remember that Bitcoin’s volatility could throw a wrench in your plans. Monday’s price action might be the tea leaves you need for next week’s moves.
  • If the $0.405 level holds strong and Cardano manages to climb back above $0.43, we might have some cautious optimism brewing. ☕️

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2025-12-14 16:23