Cardano Price Prediction: ADA Drops 2.5% as Longs Take $4M in Liquidations

• Cardano price prediction stays cautious below $0.2310, the level ADA lost in today’s drop
• Long positions took $4.06 million of the day’s $4.17 million in liquidations, Coinglass data shows
• Veridian became the first asset tokenized under Cardano’s CIP-113 standard this week

Cardano price prediction for October 16 stays cautious below $0.2310, the level ADA needs to reclaim after today’s long-heavy liquidation flush.

Cardano Price Analysis: Can ADA Hold the 100-Day EMA at $0.2195?

ADA trades near $0.2241, down 2.5% today, after breaking below the 0.618 Fibonacci retracement at $0.2310 with an intraday low of $0.2160. That drop also pushed price below the 20-day EMA at $0.2405 and the 50-day EMA at $0.2298, though it held above the 100-day EMA at $0.2195.

A rising trendline that has supported price since the June l…

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