Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
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

The merchant warns that Bitcoin is in ‘cancer price behavior’.

June 7, 2025

How does it affect Bitcoin?

June 7, 2025

ETF publisher’s latest warning -SEC’s approval process ‘Innovation, AIDS GIANTS’

June 7, 2025
Add A Comment

Comments are closed.

Recent Posts

TEZOS promotes scaling efforts by activating data soluble layers.

June 7, 2025

It shows a graphite network. Tesla is nothing without trust because Tesla’s Tesla spent $ 150 billion after Musk and Trump’s fallout.

June 7, 2025

The merchant warns that Bitcoin is in ‘cancer price behavior’.

June 7, 2025

Is Bitcoin Price Rally $ 150K by the end of the year?

June 7, 2025

How does it affect Bitcoin?

June 7, 2025

Gala Games introduces a step -by -step approach to founder node staking.

June 7, 2025

AB starts in binance

June 7, 2025

ETF publisher’s latest warning -SEC’s approval process ‘Innovation, AIDS GIANTS’

June 7, 2025

Solana (SOL) introduces Alpenglow for faster blockchain agreement.

June 7, 2025

The Foresight Ventures report shows a collection shift where more than 32,000 sellers around the world accept encryption.

June 7, 2025

$ AB is live on Binance, guiding the new era of new cross chain asset mobility.

June 7, 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

TEZOS promotes scaling efforts by activating data soluble layers.

June 7, 2025

It shows a graphite network. Tesla is nothing without trust because Tesla’s Tesla spent $ 150 billion after Musk and Trump’s fallout.

June 7, 2025

The merchant warns that Bitcoin is in ‘cancer price behavior’.

June 7, 2025
Most Popular

Binance expands trading options with BOOK OF MEME listing and BOME perpetual contract launch

March 16, 2024

Cryptocurrency ETPs recorded inflows of $2.2 billion in 2023.

January 4, 2024

OKX Announces Support for New USDC Spot Trading Pairs

May 16, 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.