High FUD, 73% longs – Is Cardano’s 0.50 USD support hanging by a thread?

The current market atmosphere surrounding Cardano (ADA) is dominated by fear, uncertainty, and doubt. Recently, ADA’s price fell 15.20%, breaking the crucial $0.60 support level, which raises concerns among investors.

Despite the price drops, 73.37% of positions on Binance Futures remain long. These high-risk positions are at risk of liquidation, as significant liquidations of $12.73 million have occurred due to aggressive long positioning.

Investor sentiment shows a divide, as retail investors may panic sell while large holders are more likely to accumulate ADA tokens. This behavior could dictate the future price movements of Cardano.