Cardano ADA Targets $0.99 Amid $109 Million in Short Positions at Risk of Liquidation

Cardano's Price Movement: Cardano (ADA) is approaching the $0.99 resistance level, with significant short positions at risk of liquidation, which could drive prices higher.

Resistance Levels: Analysts suggest that breaking the $1.1902 resistance could lead ADA towards its all-time high (ATH) of $3.09, indicating potential for further upward movement.

Short Positions Risk: Over $109 million in leveraged short positions are concentrated on major exchanges, and their liquidation could create increased buying pressure, further boosting Cardano's price.

Market Sentiment: Currently trading at $0.869600, Cardano has shown a 1.5% rise in the last 24 hours, supported by strong trading volume of $1.34 billion, reflecting positive market sentiment.