Cardano Enters Accumulation Phase Amid 44% YTD Loss

Cardano's price has dropped by 44.63% since the start of the year, making it one of the hardest-hit cryptocurrencies in the bear market.

However, recent data suggests that Cardano is now entering an accumulation phase, where buyers are stepping back into the market and pushing prices up.

The Alpha Leverage pressure metric indicates that ADA is currently in a buying phase, following a deleveraging event that saw extremely high-leverage positions flushed out of the market.

This balanced level allows for further upside, with limited capital flow and reduced leverage in the derivatives market.