{"id":573778,"date":"2024-02-07T11:08:35","date_gmt":"2024-02-07T11:08:35","guid":{"rendered":"https:\/\/ktsl888.com\/?p=573778"},"modified":"2024-02-07T11:08:35","modified_gmt":"2024-02-07T11:08:35","slug":"cardano-price-stagnant-at-0-48-but-charts-point-to-potential-upswing","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/cardano-price-stagnant-at-0-48-but-charts-point-to-potential-upswing\/","title":{"rendered":"Cardano Price Stagnant At $0.48, But Charts Point To Potential Upswing"},"content":{"rendered":"

Cardano (ADA), the eighth-largest cryptocurrency, finds itself in a perplexing situation as it grapples with a battle between bullish and bearish forces, leaving investors deciphering mixed signals in a turbulent market.<\/p>\n

Related Reading: Dogecoin Massive Dump: 100 Million DOGE Floods Robinhood, Investors Brace For Price Impact<\/a><\/div>\n

The optimism that briefly emerged on January 29th, as ADA’s market structure turned bullish, proved short-lived, unable to overcome the critical $0.50 support level, and remaining stuck in the $0.48 territory.<\/p>\n

Social media sentiment, often a precursor to price movements, has not provided solace either. Santiment’s “weighted social sentiment” metric has steadily declined over the past ten days, reflecting tepid investor confidence.<\/p>\n

\"\"Source: Coingecko<\/pre>\n
ADA’s Metrics: Confusion Amidst Bullish Signals<\/strong><\/h2>\n
The confusion deepens when examining on-chain metrics. While the negative MVRV ratio suggests ADA might be undervalued, the sustained presence in negative territory raises concerns. Conversely, the increasing number of active addresses, signaling heightened network activity, offers a glimmer of hope for bullish investors.<\/p>\n
Complicating the outlook is the liquidation heatmap from Hyblock. Two prominent zones add complexity: the $0.45-$0.48 region, hosting an estimated $300 million in liquidation levels, and the $0.52-$0.54 zone, carrying similar selling pressure. A drop to the former could trigger buying activity as long positions close, while the latter’s fate hinges on Bitcoin’s (BTC) movement, given ADA’s tendency to follow its lead.<\/p>\n
ADA currently trading at $0.4809 on the daily chart: TradingView.com<\/a><\/pre>\n
Industry experts remain divided on Cardano’s future. Santiment suggests that the increased bearish sentiment might hint at an impending price bounce, while others exercise caution, citing the lack of definitive follow-through after the initial bullish market structure shift.<\/p>\n
\n
\ud83d\udc3b With #crypto<\/a> market caps ranging and lacking the usual growth traders have been accustomed to since the #bullcycle<\/a> began in October, there is a notable #bearish<\/a> sentiment that has taken hold of #crypto<\/a> discourse this week. #Bitcoin<\/a>, #Ethereum<\/a>, #BinanceCoin<\/a>,<\/p>\n
(Cont) \ud83d\udc47 pic.twitter.com\/c3M4bPxlhi<\/a><\/p>\n
\u2014 Santiment (@santimentfeed) February 5, 2024<\/a><\/p><\/blockquote>\n
\"\"Source: Santiment<\/pre>\n
Cardano\u00a0Dips Amidst Stability: Mixed Signals<\/strong><\/h2>\n
Cardano (ADA) is currently navigating a bearish trend, experiencing a 2.93% decrease in the past 24 hours and declines of 1.13% and 10.33% over the past week and month respectively. Despite this dip, it maintains its position as the 8th largest cryptocurrency by market cap, suggesting some underlying stability.<\/p>\n
Related Reading: Ronin Plunges Nearly 30% After Binance Debut, Raising Concerns About Pre-Listing Hype<\/a><\/div>\n
While the short-term technical picture appears bleak, longer-term indicators offer potential for cautious optimism. The increasing number of active addresses hints at growing network activity, a potential bullish sign.<\/p>\n
Additionally, the negative MVRV ratio, although concerning in its extended presence, could indicate undervaluation. However, this needs to be balanced against the crucial resistance zones identified around $0.54-$0.56, which could hinder upward momentum.<\/p>\n
Overall, ADA’s future trajectory remains uncertain. Further analysis would benefit from exploring the reasons behind the recent price decline, potential catalysts for recovery, and a deeper dive into long-term fundamentals like development progress and adoption rate.<\/p>\n
Featured image from Freepik, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
Cardano (ADA), the eighth-largest cryptocurrency, finds itself in a perplexing situation as it grapples with a battle between bullish and bearish forces, leaving investors deciphering mixed signals in a turbulent market. Related Reading: Dogecoin Massive Dump: 100 Million DOGE Floods Robinhood, Investors Brace For Price Impact The optimism that briefly emerged on January 29th, as ADA’s market structure turned bullish, proved short-lived, unable to overcome the critical $0.50 support level, and remaining stuck in the $0.48 territory. Social media sentiment, often a precursor to price movements, has not provided solace either. Santiment’s “weighted social sentiment” metric has steadily declined over the past ten days, reflecting tepid investor confidence. Source: Coingecko ADA’s Metrics: Confusion Amidst Bullish Signals The confusion deepens when examining on-chain metrics. While the negative MVRV ratio suggests ADA might be undervalued, the sustained presence in negative territory raises concerns. Conversely, the increasing number of active addresses, signaling heightened network activity, offers a glimmer of hope for bullish investors. Complicating the outlook is the liquidation heatmap from Hyblock. Two prominent zones add complexity: the $0.45-$0.48 region, hosting an estimated $300 million in liquidation levels, and the $0.52-$0.54 zone, carrying similar selling pressure. A drop to the former could trigger buying activity as long positions close, while the latter’s fate hinges on Bitcoin’s (BTC) movement, given ADA’s tendency to follow its lead. ADA currently trading at $0.4809 on the daily chart: TradingView.com Industry experts remain divided on Cardano’s future. Santiment suggests that the increased bearish sentiment might hint at an impending price bounce, while others exercise caution, citing the lack of definitive follow-through after the initial bullish market structure shift. \ud83d\udc3b With #crypto market caps ranging and lacking the usual growth traders have been accustomed to since the #bullcycle began in October, there is a notable #bearish sentiment that has taken hold of #crypto discourse this week. #Bitcoin, #Ethereum, #BinanceCoin, (Cont) \ud83d\udc47 pic.twitter.com\/c3M4bPxlhi \u2014 Santiment (@santimentfeed) February 5, 2024 Source: Santiment Cardano\u00a0Dips Amidst Stability: Mixed Signals Cardano (ADA) is currently navigating a bearish trend, experiencing a 2.93% decrease in the past 24 hours and declines of 1.13% and 10.33% over the past week and month respectively. Despite this dip, it maintains its position as the 8th largest cryptocurrency by market cap, suggesting some underlying stability. Related Reading: Ronin Plunges Nearly 30% After Binance Debut, Raising Concerns About Pre-Listing Hype While the short-term technical picture appears bleak, longer-term indicators offer potential for cautious optimism. The increasing number of active addresses hints at growing network activity, a potential bullish sign. Additionally, the negative MVRV ratio, although concerning in its extended presence, could indicate undervaluation. However, this needs to be balanced against the crucial resistance zones identified around $0.54-$0.56, which could hinder upward momentum. Overall, ADA’s future trajectory remains uncertain. Further analysis would benefit from exploring the reasons behind the recent price decline, potential catalysts for recovery, and a deeper dive into long-term fundamentals like development progress and adoption rate. Featured image from Freepik, chart from TradingView<\/p>\n","protected":false},"author":557,"featured_media":573801,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[12333,84005,14643,12332,6664],"class_list":["post-573778","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ada","tag-ada-price","tag-adausd","tag-cardano","tag-crypto"],"acf":[],"yoast_head":"\nCardano Price Stagnant at $0.48, But Charts Point to Potential Upswing<\/title>\n<meta name=\"description\" content=\"Cardano (ADA), the eighth-largest cryptocurrency, finds itself in a perplexing situation as it grapples with a battle between bullish and bearish forces,\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/ktsl888.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Cardano Price Stagnant At $0.48, But Charts Point To Potential Upswing","url":"http:\/\/ktsl888.com\/news\/cardano-price-stagnant-at-0-48-but-charts-point-to-potential-upswing\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/cardano-price-stagnant-at-0-48-but-charts-point-to-potential-upswing\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/02\/Picture1_43139e.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/02\/Picture1_43139e.png?fit=626%2C417"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ada","ada price","adausd","cardano","crypto"],"dateCreated":"2024-02-07T11:08:35Z","datePublished":"2024-02-07T11:08:35Z","dateModified":"2024-02-07T11:08:35Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Cardano Price Stagnant At $0.48, But Charts Point To Potential Upswing\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/cardano-price-stagnant-at-0-48-but-charts-point-to-potential-upswing\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/cardano-price-stagnant-at-0-48-but-charts-point-to-potential-upswing\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/02\\\/Picture1_43139e.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/02\\\/Picture1_43139e.png?fit=626%2C417\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ada\",\"ada price\",\"adausd\",\"cardano\",\"crypto\"],\"dateCreated\":\"2024-02-07T11:08:35Z\",\"datePublished\":\"2024-02-07T11:08:35Z\",\"dateModified\":\"2024-02-07T11:08:35Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/02\/Picture1_43139e.png?fit=626%2C417","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/573778"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=573778"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/573778\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/573801"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=573778"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=573778"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=573778"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}