Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»ALTCOIN NEWS»Cardano’s Next Steps – Sellers, Holders and How They Affect the Price of ADA
ALTCOIN NEWS

Cardano’s Next Steps – Sellers, Holders and How They Affect the Price of ADA

By Crypto FlexsAugust 16, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Cardano’s Next Steps – Sellers, Holders and How They Affect the Price of ADA
Share
Facebook Twitter LinkedIn Pinterest Email
  • What was previously a solid support level has now become a major resistance level for ADA.
  • However, markets remain divided and uncertainty is the dominant sentiment.

Cardano (ADA) has not been affected by the broader market downturn like many other cryptocurrencies. In fact, at the time of writing, ADA is trading within a margin of $0.3348 after a 1.8% drop in the last 24 hours.

Can ADA Break $0.3449 Resistance?

ADA attempted to break above the resistance level of $0.3449, which was its support level before crashing on August 11, but failed.

However, after three failed attempts, a bearish continuation flag (highlighted in black) appeared on the chart, indicating the possibility of more selling pressure, which could push the price down to the $0.3184 support level.

Source: TradingView

If the daily ADA candle closes below the lower boundary of the bearish flag, we can expect a full bearish dominance. Conversely, if it closes near or above the $0.3449 resistance level, it means that the bulls are likely to take the lead.

But that’s not all. AMBCrypto’s analysis of various on-chain metrics has given mixed signals. So where does ADA go now?

Retailers prefer sales.

ADA Daily Active Address Review Saintly Highlighted A significant decline. From a peak of 36,657 on August 8, it has fallen to the 10,000s at the time of writing.

Source: Santiment

A decline in active addresses is a sign of declining retail participation, which means there is growing bearish sentiment that could push the ADA price lower further.

Also, data Coinglass Long position holders suffered the biggest losses of $649,100 liquidated over the past 24 hours, with a total loss of $549,810.

The forced liquidation of long positions highlights the bearish sentiment and could lead to further selling as large amounts of ADA are liquidated to cover these positions.

However, despite the current market struggles, AMBCrypto found that long-term holders are willing to bet on ADA’s recovery.

Optimism is spreading among long-term holders

According to CoinglassDaily net inflows represent the net amount of ADA deposited and withdrawn from the exchange in USD, and the exchange recorded significant outflows, resulting in a total loss of $1.75 million.

Source: Coinglass

Last week, the net outflows from major exchanges including Binance, Coinbase, and Bitfinex totaled a net loss of $4.87 million, with Bitfinex alone seeing a net outflow of $1.77 million.

This mostly negative netflow suggests that long-term holders are moving their ADA to their personal wallets for safekeeping. This move is generally considered bullish, reducing the available supply of ADA on exchanges.

finally, Dephilama We have reported that ADA’s total value locked (TVL) on DeFi protocols is gradually increasing, which further supports the bullish outlook, especially as more assets are staked, lent, or committed to DeFi initiatives.

Cardano’s future trajectory remains uncertain, but as new trading levels develop over the next few days, it is likely that a bullish or bearish wave will emerge first.

Next: XRP is trending down. Should I take a short position at these levels?

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Binance explodes 466m LUNC with oblivion: revival play or special effect?

September 4, 2025

Defi Surges, BTC Swings & Tradfi faces freezing: Daily encryption failure

August 28, 2025

Keepsolid launches KS COIN: Loyalty encryption through actual utility token benefits

August 14, 2025
Add A Comment

Comments are closed.

Recent Posts

TRX Was Early, ETH Set The Standard, BNB Built The Scale- Now SYC Brings The Next Evolution

September 4, 2025

Sign Up And Receive $500 Bonus, Ushering In A New Era Of Compliant And Secure Crypto Investment

September 4, 2025

Why experts say that 99%of the traders are wrong

September 4, 2025

ChainUp Named Double Finalist At Thomson Reuters’ ALB Pan-Asian Regulatory Awards 2025

September 4, 2025

Integrated security classes can accelerate the adoption of institutional passwords.

September 4, 2025

Binance explodes 466m LUNC with oblivion: revival play or special effect?

September 4, 2025

Cardano founder says Chainlink quotes ‘ridiculous price’ to them.

September 3, 2025

Acurast launches ‘Staked Compute’ and challenges AWS, Azure and Google Cloud using the distributed smartphone network.

September 3, 2025

Solana-packee blockchain manually spreads

September 3, 2025

Bybit Card Launches In Europe With Unmatched 20% Cashback

September 3, 2025

GiftlyCard.com Recognized As Verified And Secure By Independent Review Sites

September 3, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

TRX Was Early, ETH Set The Standard, BNB Built The Scale- Now SYC Brings The Next Evolution

September 4, 2025

Sign Up And Receive $500 Bonus, Ushering In A New Era Of Compliant And Secure Crypto Investment

September 4, 2025

Why experts say that 99%of the traders are wrong

September 4, 2025
Most Popular

Australian, Indonesian tax agencies sign cryptocurrency information sharing agreement

April 25, 2024

Ethereum developers explore EIP 7742 and Pectra upgrades in ACDC Call #144.

October 18, 2024

Reimagining EVM Storage: Solving Key Blockchain Challenges

November 23, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.