Cardano (ADA) has experienced a significant increase in price, with a surge of over 38% in the last 24 hours. The rise in price is linked to the liquidation of short positions, causing a rapid climb. The liquidation levels are important in predicting ADA's future movements, with the potential for further gains if ADA maintains its trajectory above key thresholds. However, if ADA fails to sustain its hold above these support zones, there may be a retracement. ADA's price movements have shown a cyclical nature, with the recent approach towards the 20 EMA level being a potential bullish signal. Monitoring ADA's interaction with the 20 EMA is crucial for accurately predicting short-term price movements.



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