Cardano ADA News: Potential $3.28B Short Liquidation Risk if Price Reaches $1.04

The cryptocurrency market is always full of surprises, and the latest news surrounding Cardano (ADA) is no exception. Here’s a closer look at what traders and investors need to know about the potential for a significant price movement and the associated risks.

Cardano (ADA) Faces $3.28B Short Liquidation Risk

If Cardano (ADA) climbs to $1.04, a significant price movement could trigger the liquidation of $3.28 billion in Leveraged short positions. The latest liquidation heatmap data highlights a key resistance zone where traders betting against ADA may face substantial losses should bullish momentum push the price higher. The analysis, shared by market expert @ali_charts, underscores the risk short-sellers face and the potential for a sharp price rally if ADA overcomes critical resistance. As of March 8, 2025, ADA was trading at approximately $1.03789.

Cardano Price Declines, Volume Increases

Cardano (ADA) price drops to $0.7439, marking an 8.34% decline in the last 24 hours. The daily trade volume climbed by 58.36% to $1,779,108,004. This volume increase amidst a price decline suggests profit-taking or repositioning by crypto traders. Cardano has declined 26.22% in the last 7 days, with a total market capitalization of $26,204,569,642.

Cardano Holds Key Support Zone – Potential Recovery Rally Ahead?

Cardano (ADA) has faced massive volatility, dropping more than 28% in the past few days amidst negative sentiment surrounding altcoins. Despite the bearish sentiment, key insights suggest that Cardano could be preparing for a recovery rally. Top analyst Ali Martinez revealed that ADA’s key support zone lies between $0.80 and $0.66. Holding above this level has been crucial for setting up a market rebound.

Cardano (ADA) Price Prediction for March 10

As of now, Cardano (ADA) is trading at $0.6959. The token has experienced a 9.48% drop over the last 24 hours, suggesting short-term selling pressure. However, over the past 30 days, ADA has shown a modest 0.83% increase, indicating a relatively stable long-term trend amid periodic corrections. Analysis reveals consolidation within a narrow range, hinting at a holding pattern as traders await a decisive catalyst. Several bullish candlestick formations have also been observed.