Can Cardano short traders make major moves with ADA dropping to these levels

December 27, 2022

By Akashnath S

• The 12-hour bearish order block meant sellers can look for trade opportunities soon

• However, volatility could see Cardano rise higher in search of liquidity before a reversal

Cardano whales have increased their holdings in recent months. The transaction count had also increased enormously, according to Cardano Foundation. The downtrend of Cardano was not yet reversed, and it could take a long time before that happens.

Bitcoin [BTC] traded between the $16.6k mark and $16.9k mark over the past ten days. The rest of the crypto market has also ground to a halt, and trading volumes were extremely low. Traders can wait for volume and volatility to arrive before looking for trades.

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