Cardano ADA Coils at $0.18, Smart Money vs Spot Sellers in Technical Limbo

Cardano (ADA) is currently coiling at $0.18 with compressed volatility and flatlined momentum indicators, according to analyst Timothy Morano.

This technical limbo has ADA sitting 22% below its 200-day moving average of $0.23 in a market that's supposed to be mid-cycle.

Despite the smart money being stacked long with 68.5% of Binance's top trader cohort holding futures positions, spot selling pressure is overwhelming the bid, and the taker buy/sell ratio is printing 0.81.

The bull case for a short squeeze to $0.21 or even $0.23 is possible if ADA reclaims $0.19 on volume exceeding the recent daily average of $11M.