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Cardano (ADA) Widens Losses, Elevating The Investors ConcernsCardano (ADA) Widens Losses, Elevating The Investors Concerns Cardano's price eroded nearly 13% of the gains a week, disappointing investors who anticipated further gains. The formation of a bearish divergence in ADA price DAA divergence metrics hints further decline for the asset. Cardano (ADA) price could not capitalize the gains this week and declined, wiping out most of the gains of the previous week. The asset's price recorded a significant bounce back in the previous week adding 18% to the market cap. However, this week ADA price dropped, elevating concerns for the investors who thought that the last week's price rise was a stepping stone for further highs. This week's downturn has left the investors disappointed about ADA for next month. Let's analyze and try to obtain a more clear picture about the possibility of a bullish reversal or bearish continuation in Cardano. ADA Price DAA Divergence Highlights A Bearish Control The price performance of Cardano hints at a weekly loss of nearly 13%, a loss of nearly 41% on a year-to-date basis. At the time of writing, Cardano was exchanging hands close to $0.348, recording a mild 0.55% gain in intraday. Moreover, As per the data obtained by an on-chain analytics website app.santiment.net, a bearish divergence was observed between the Price and DAA (Daily active address). Daily active address reflets the number of users that have taken part in any transaction in a particular period of time. generally DAA is measured on a 24-hour and 7-day basis. The price DAA divergence is an on-chain metrics which indicates the formation of any bearish or bullish divergence. As of now, a bearish divergence was observed indicating a potential decline in the asset's price. Cardano Price Technical Analysis The daily chart highlights the formation of a declining parallel channel with ADA respecting the lower and upper boundaries as support and resistance. The volume to market cap ratio at 2.14% suggests low volatility in the crypto. The price drop in the recent sessions have dragged the price below the key exponential moving averages of 20 and 50 days indicating a weak outlook in the short term. Now, until the price is maintained in the channel, it may continue to remain in a correction phase and fall more. Recently, ADA price suffered rejection from the upper boundary of the channel and was headed towards the lower boundary as of now. Moreover, the price needs to break out of the channel in order to turn bullish in the long term. At the time of writing, the RSI line was placed at 45.2 points and the 14 day SMA line was at 50.3 points. Moreover, a bearish crossover was observed indicating the losses may widen more in the short term. Cardano (ADA) failed to sustain last week's gains, dropping nearly 13% this week. Despite a brief 0.55% intraday gain, investor concerns have risen after a decline this week. Moreover, the on-chain data shows a bearish divergence between price and daily active addresses, suggesting further declines. Furthermore, the daily chart indicates a declining parallel channel, with ADA below key 20 and 50-day exponential moving averages, pointing to short-term weakness. The RSI at 45.2 and a bearish crossover with the 14-day SMA at 50.3 suggest potential for more losses in the short term.
CRYPTO:ADAUSDShort
by Ritika_TCR
the MACD also portraying uncertainity and consolidation The Cardano price chart was an intense match among bulls and bears, initially, bulls had control, but later shift in the wind dropped the game in bears' favor. At press time, the ADA price has traded in a darvas box consolidation range at $0.4510 with an intraday surge of +1.02%, with a market capitalization of $16.08 Billion. Similarly, based on the positive tweets, the ADA asset daily chart shows that it has been consolidating at $0.4200 support and remains below the 20-day, and 50-day EMAs, portraying uncertainty on the daily chart. Likewise, the MACD also portraying uncertainity and consolidation in the price as both lines are side by side, with a no growth in histogram and the RSI flashed at 44.46 which has been near the median line. It portrayed that the Cardano crypto has been trying to hold on at key support, and bulls are defending the level, so ADA has not been a losing steam yet and could sky rocket in future sessions. Therefore, if the breakout occurs strongly, the next goal for the ADA price could be to reach the above levels, such as $0.6700 and $0.8000. On the contrary, if the price plunges and breaks the key support $0.4200, then the Cardano crypto price could decline further.
BITSTAMP:ADAUSDLong
by Sam_TCR
1
Cardano Price Prediction: Is ADA Price Awaiting a Sudden Boom?At press time, the Cardano price was trading close to $0.61 reporting a 3.39% gain in Intraday. The ADA crypto made a breakdown of the 20 and 50 day exponential moving average suggesting a weakness on the daily chart. The Cardano price has been recovering the losses in the last couple of sessions and trying to get back above the 20 and 50 day EMA. The price noted a sharp fall in the last week and made a breakdown of the dynamic support of 20 and 50 day EMA. However, the long term trend outlook is still positive above the dynamic support of 200 day EMA. The recent breakdown has added some sort of weakness in the trend however, the bulls may make a comeback at the lower levels if the price bottoms out and rises above the 50 day EMA. On the higher side, the 20 and 50 day EMA may act as a hurdle for the buyers and try to drag the price lower. Currently, the price seems to have entered a short term correction and might maintain it until price surpasses the short term EMAs. Now, any sustained move above the 20 and 50 day EMA may validate the termination of a short term trend and the crypto may advance towards the higher supply levels. Cardano Crypto Development Activity Insights The development activity and developers activity count depicts the updates and changes prevailing in the backend of the Cardano crypto. A development activity indicates the positive growth of ADA in the near Future. Looking at the data it was observed that the development activity and number of developers decreased sharply in December 2023. However, the development activity has been rising continuously since January. The present day development activity contributors count is 25. Cardano Price Suffers As IO Data Dropped. The OI data shows the Total number of open contracts in the ADA Crypto. The IO data analysis saw a continuous rise in the number of OI contracts up to February last week sessions. However after that OI data started forming a bearish curve and later on, the price also noted a sharp fall from the highs. This OI data is declining indicates a potential decline in the upcoming sessions. Active Wallets Declined In The Recent Sessions. The number of distinct addresses in the ADA token that participated in a transfer for the given asset in the past 24-hour window is declining, and the 7-day window is also declining since 1st week of March 2024. This illustrates that less people are using and trading the token, which is implying a lesser demand and value for the token as the active addresses of ADA tokens are decreasing in the last one month. Comparing this with ADA price, it was observed that the crypto also noted a fall after topping out in the 2nd week of March and noted a 26% decline by the 1st week of April. Cardano Price Prediction April 2024. On the most bullish observation, The Cardano crypto could rise to a high of $0.79 by the end of April 2024 if it surpasses the recent supply of $0.63. On the flip side, the most pessimistic prediction of our analysts is for the price to break below the recent support of $0.56 level after which the price may fall to $0.50 level. Conclusion. The Cardano price has been recovering the losses in the last couple of sessions and has surged nearly 7% in the last three sessions. The crypto is up nearly 3.39% intraday and was hovering close to $0.61 at the time of writing. The recent fall has dragged the crypto below the 20 and 50 day EMA indicating a short term correction. Now, if the bulls are able to surpass the dynamic support of 20 and 50 day EMA, it may validate a breakout of the correction phase and the crypto may continue to draw positive trajectories thereafter. Technical levels: Support levels: $0.50 and $0.40 Resistance levels: $0.65 and $0.80 Disclaimer The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
CRYPTO:ADAUSD
by Ritika_TCR
ADA - next bullrun?🚀 Exciting Cardano BITFINEX:ADAUSD Update! 🌐📈 Hey Crypto Fam! 🌟 I've got some intriguing insights on Cardano's current chart dynamics. 📊✨ The price is about to complete an bullish contracting triangle. According to my primary analysis, I believe we might be in for a deeper C-wave, especially if the intraday low is breached and the price dips below $0.355. 📉 Why am I leaning towards the primary scenario? The same distance B extended above the starting point of the correction suggests that if C surpasses A, we could be looking at a 50% Fibonacci extension. Alternatively, if (e) is already in play, breaking the $0.41 level could be a game-changer. 🎯 Happy trading! 🚀
BITFINEX:ADAUSDLong
by stromm
💡Don't miss the great buy opportunity in ADAUSD @CardanoTrading suggestion: ". There is a possibility of temporary retracement to the suggested support line (1.094). . if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . ADAUSD is in a range bound, and the beginning of an uptrend is expected. . The price is below the 21-Day WEMA, which acts as a dynamic resistance. . The RSI is at 57. Take Profits: TP1= @ 1.187 TP2= @ 1.314 TP3= @ 1.426 TP4= @ 1.516 TP5= @ 1.635 SL= Break below S2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Forex / Crypto trader? Now, It's your turn! Be sure to leave a comment; let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
BINANCE:ADAUSDLong
by ForecastCity_ME
7
💡Don't miss the great buy opportunity in ADAUSD @CardanoTrading suggestion: ". There is a possibility of temporary retracement to the suggested support line (1.308). . if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . ADAUSD is in an uptrend, and the continuation of the uptrend is expected. . The price is above the 21-Day WEMA, which acts as a dynamic support. . The RSI is at 71. Take Profits: TP1= @ 1.405 TP2= @ 1.489 TP3= @ 1.587 TP4= @ 1.747 TP5= @ 1.904 SL= Break below S2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Forex / Crypto trader? Now, It's your turn! Be sure to leave a comment; let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
BINANCE:ADAUSDLong
by ForecastCity_ME
8