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»Should Cardano HODLers expect an ADA increase, or not?
ALTCOIN NEWS

Should Cardano HODLers expect an ADA increase, or not?

By Crypto FlexsFebruary 2, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Should Cardano HODLers expect an ADA increase, or not?
Share
Facebook Twitter LinkedIn Pinterest Email

  • Resistance at $0.53 could hinder ADA’s rebound.
  • Cardano’s transaction volume has decreased, but its social dominance has increased.

The value of Cardano (ADA) has fallen 18.45% since the beginning of the year, according to CoinMarketCap data.

However, AMBCrypto’s assessment of the price tracking platform shows that the price has increased by 3.60% in the last 24 hours. This increase brought ADA back above $0.50.

Despite this increase, on-chain data has revealed some interesting things happening on the Cardano network. The first was a 24-hour active address.

Activities take a backseat

Active addresses increased to 45,000 on February 1, according to Santiment. But by press time, the indicator had plummeted to 40,400.

Active addresses show the number of wallets involved in incoming and outgoing transactions. A surge in active addresses mostly, but not always, has a positive impact on cryptocurrencies. Therefore, we can assume that Cardano is at near-term downside risk due to the recent decline.

Source: Santiment

However, indicators alone cannot determine whether the price of ADA will rise or fall. This is why AMBCrypto decided to investigate its price potential from a technical perspective.

According to the ADA/USD 4-hour chart, the token was close to the support level on December 8. Afterwards, the price of ADA soared to $0.64.

However, this time it seemed like a big difference due to resistance at $0.53. Buying pressure must increase for ADA to overcome resistance.

ADA may have a hard time rising

According to the MACD (Moving Average Convergence Divergence) indicator, ADA’s numbers were negative. This means momentum is bearish.

Additionally, the 12-day EMA (blue) was lower than the 26-day EMA of 9 (orange). If these indicators remain the same, ADA may not be able to repeat December’s upward trend.

Moreover, OBV (On Balance Volume) also remained at the same level, indicating a lack of buying pressure. In a very optimistic case, ADA could surge to $0.53 or $0.55.

However, signals from the indicator suggest that the ADA price may plateau at $0.50 or move below it.

Cardano Price Analysis

Source: TradingView

In terms of volume, Santiment has seen a decline in metrics. For example, Cardano’s trading volume was 586.31 million as of January 30. However, at the time of this writing, the number has dropped to 341.26 million.

This decline suggests that interest in the ADA has subsided. Regarding the price action, the decreasing volume and rising price suggest that the token may soon weaken.


Read 2023-2024 Price Prediction for Cardano (ADA)


Moreover, Cardano’s social dominance soared to 2.95%. This means there is a lot of discussion going on about tokens. From a price perspective, high social dominance may be a symbol of the region’s highest level.

Cardano’s trading volume and social dominance

Source: Santiment

As things stand, ADA’s bearish outlook outweighs its optimistic outlook. Therefore, traders may have to wait a little longer before ADA rises much higher.

Previous Blog: Investing in this altcoin is like buying Solana (SOL) for less than $1!

Next Blog: 50% Off Exclusive AAVE Swap Fees at Klever Wallet

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

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

XRP struggles for $ 3: Do Whale Offroads attract it lower?

August 7, 2025
Add A Comment

Comments are closed.

Recent Posts

Metaplanet’s bitcoin strategy is having trouble with stock plummet in the crisis of financing.

August 31, 2025

Next chapter of ecosystem support program

August 31, 2025

Ether Lee (ETH) tests major support for $ 4,453 after the highest rejection.

August 31, 2025

BNB price forecast: Target $ 890- $ 900 in September 2025.

August 31, 2025

After BTS Star Jungkook has 39 billion hacking, South Korea will crack down on encryption fraud.

August 30, 2025

FY Energy Offers Industry-leading Cloud Computing Systems, Offering Opportunities For Daily Passive Income Of $7,580 Through Mining.

August 30, 2025

Four coins to be purchased as decisions for five branch XRP ETFs will be pushed until October.

August 30, 2025

Ethereum-Based Meme Project Pepeto ($PEPETO) Surges Past $6.5M In Presale

August 29, 2025

Use Australia’s Top Cloud Mining Tools To Become A Millionaire!

August 29, 2025

Bitcoin is under pressure with gold aiming to be the highest ever.

August 29, 2025

The US government posts GDP data on Bitcoin block chain.

August 28, 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

Metaplanet’s bitcoin strategy is having trouble with stock plummet in the crisis of financing.

August 31, 2025

Next chapter of ecosystem support program

August 31, 2025

Ether Lee (ETH) tests major support for $ 4,453 after the highest rejection.

August 31, 2025
Most Popular

Cryptocurrencies need prediction markets to hedge regulatory risk, says Paradigm.

February 6, 2024

Wallitiq ‘s (wltq) provides a more stable path for 50X ROI.

February 3, 2025

3 Reasons Why Ethereum Is Struggling Today: Will ETH Break $2,000?

August 9, 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.