Saad Ullah
Cardano is sitting at a critical price point that could trigger massive liquidations. With over $100 million in short bets hanging in the balance, ADA might be gearing up for its next big move.
ADA Price Nears Critical Liquidation Zone
Cardano is flirting with danger – at least for short sellers. Data from @TapTools shows that $109.15 million in short positions could get completely wiped out if ADA hits $0.99. Right now, the token sits at $0.873, meaning we're just a small push away from potential chaos.
This setup often leads to explosive price moves. When traders betting against ADA are forced to buy back their positions, it creates intense buying pressure that can rocket the price well past key resistance levels.
Here's where these risky short bets are sitting:
- Binance: 164.51K
- OKX: 55.17K
- Bybit: 126.57K
Having liquidations spread across major exchanges makes a domino effect more likely if ADA keeps climbing.
Will Cardano (ADA) Trigger a Short Squeeze?
If Cardano breaks past $0.90 with solid trading volume, reaching $0.99 becomes a real possibility. Once we hit that magic number, forced liquidations could spark a short squeeze that launches ADA past the psychological $1 barrier.
These liquidation-fueled rallies tend to happen fast and catch many traders completely off guard. With crypto markets heating up again, ADA could easily become one of the standout performers in the next altcoin rally.
Saad Ullah
