Cardano Price Stuck in Volatility Squeeze, Analysts Expect Breakout

Crypto asset Cardano's price has been stuck in a narrow range of $0.155 and $0.166, causing technical analysts to speculate about its next move.

Terrill Dicki notes that the market is currently experiencing a volatility squeeze, with zero directional momentum. The smart money on Binance is stacked 2.2-to-1 long, while retail accounts are also heavily weighted towards long positions at 65.1%.

The positioning data suggests that there's everything in place for a 'textbook long liquidation sweep', according to Dicki. This would involve heavy positioning on one side of the market combined with stagnant price action, leading to a stop-hunt flush rather than a launch pad.

In terms of price targets, Dicki sees a 60% probability that ADA will break below $0.155 and experience a 'flush and reload'. This would lead to a potential bounce from the $0.150-$0.152 zone.