Cardano does $ 48 million – ADA 26 % Rally Trap? star-news.press/wp

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Cardano recorded the flow of liquidity of $ 48 million as an open interest (OI) that rose one billion dollars last day. However, the liquidity group data indicates that the bull trap may form.

Cardano (ADA) has continued to gather, with 2.87 % in the past 24 hours and raised its weekly increase to 26.86 %.

However, this may not be a direct continuation. While the analysis shows that ADA has a clear way to its highest new levels, the basic market activity indicates that it may be a trap.

Liquidity flows have reached the peak

There has been a sharp rise in market liquidity over the past 24 hours through both derivatives and immediate markets.

In the derivative sector, the open interest – which measures the total value of unstable future contracts – has been made to more than 3 % to $ 1.21 billion, adding approximately $ 48 million to the market for each Coinglass.

Source: Coinglass

This is the third time this year that OI crossed the level of $ 1.2 billion – a specific manner in March, when ADA was traded at $ 1.17, and on most January, when the price is about $ 1.

These liquidity flows are usually seen as bullies and compatible with previous gatherings of more than $ 1.2 billion, which historically preceded more escalating moves.

The immediate market also shows a strong upward position.

Source: Coinglass

Netflow exchange data – which tracks net purchase or sells pressure –Indicate More than $ 14 million of ADA was bought last week.

This purchase pressure helped maintain the ups of ADA, as symbolic trading is $ 0.7522 at the time of the press.

Empires to infiltrate the humble flow

The scales on the chain also support the bullish trend, albeit on a smaller scale.

The total closed value (TVL) in the Cardano -based protocols increased over the past day, indicating an increase in the investor’s activity.

according to DevilleTVL from Cardano now reached $ 333 million, which reflects the increasing confidence in the network and long -term ups in the term.

Source: Devillama

If TVL continues to climb, it may add more support to the continuous direction of accumulation in both stain and derivative markets, helping Ada to maintain its bullish location.

However, Ambrypto analysis indicates that this may be a preparation – a potential trap of the bull – especially as Ada began to move up.

Taurus trap forms Ada?

The graph data indicates that the bull trap can form, based on the liquidation group areas – key areas where the price is likely to be attracted.

A closer look at the 24 -hour recycling map reveals the limited liquidity before the current ADA price, as the groups reached only up to $ 0.78.

Source: Coinglass

On the contrary, a large concentration of non -full liquidity is below, extending to $ 0.68.

As ADA trading continues in a bullish stage at $ 0.75, it is likely to reach a $ 0.78 liquidity set before sharply reflected to fill in low requests.

The price of the press time sits only $ 0.03 less than a group of $ 0.78, indicating that the move can lead to a classic bull trap and liquidate long merchants.