Abnormal 1,512% Liquidation Imbalance Stun Cardano Bulls

Key Points

1. Cardano's price dropped to $0.8208, causing long position traders to lose $13.08 million in 24 hours.

2. A 1,512% liquidation imbalance occurred as ADA's price fell from a high of $0.8601 to $0.8008 before a partial recovery.

3. The Relative Strength Index (RSI) reached 78.01, indicating an overbought zone and triggering profit-taking.

4. Cardano's integration into Blockchain.com’s DeFi Wallet could support price recovery by increasing accessibility to 37 million users.

5. Trading volume declined by 48.02% to $1.72 billion, requiring an increase to sustain a potential rebound toward $1.