Cardano's price has been experiencing mild selling pressure over the past day, causing it to decline by 0.7% and trade near $0.2692. This price movement is significant as it has brought the asset close to an important support zone.
The intraday chart shows that Cardano's price is fluctuating within a relatively narrow range between $0.2667 and $0.2775, indicating short-term volatility in the market. Despite this, technical indicators suggest that the asset may be shifting towards bullish momentum, with the Parabolic SAR indicator appearing below the candles near $0.2634.
Furthermore, recent Cardano liquidation data shows relatively modest activity in the derivatives market compared to larger cryptocurrencies. Over the past hour, total liquidations have reached approximately $4.66K, with short positions accounting for roughly $3.69K and long positions at around $967.