Cardano (ADA) has reached a key level, signaling a potential massive sell-off if downside momentum does not continue.
ADA's price initially dropped from a key level but failed to close below it, forming a bullish hammer-type candlestick pattern at the key support level of $0.65.
If ADA falls below the key level and closes below $0.615, it could drop by 30% to reach $0.45 in the future.
Investors are accumulating ADA while traders are betting on the bearish side, leading to strong market sentiment in both directions.