Cardano’s ADA token saw its trading volume surge 116% in 24 hours, exceeding $334 million on Binance alone. The token surpassed the crucial $0.20 level, recovering its 20-day and 50-day moving averages. 24-hour liquidations were heavily skewed toward shorts at $3.28 million versus $635,000 for longs, with the Binance long-to-short ratio at 1.83. The RSI crossed above 70, indicating overbought territory, while the 100-day moving average between $0.197 and $0.20 is acting as immediate resistance. The next test for buyers will be to turn the $0.20 level into support.
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