{"id":606887,"date":"2024-05-07T14:00:30","date_gmt":"2024-05-07T14:00:30","guid":{"rendered":"https:\/\/wncen.com\/?p=606887"},"modified":"2024-07-12T04:42:29","modified_gmt":"2024-07-12T04:42:29","slug":"cardano-ada-trading-activity-goes-quiet-will-this-drag-down-the-price","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/cardano-ada-trading-activity-goes-quiet-will-this-drag-down-the-price\/","title":{"rendered":"Cardano (ADA) Trading Activity Goes Quiet: Will This Drag Down The Price?"},"content":{"rendered":"

Third-generation blockchain platform Cardano (ADA) has been reflecting a mountain climber hanging on a flimsy ledge. Following a modest climb earlier this month, the price has dropped back, leaving investors wondering about the robustness of the present increase.<\/p>\n

Although a recent increase in active addresses suggests fresh interest, technical indicators and dwindling trading volume point to an uncertain future.<\/span>
\n<\/span><\/p>\n

Related Reading: 900 Million Telegram Users Send TON Token Soaring 15% \u2013 Details<\/a><\/div>\n

Cardano At A Crossroads<\/strong><\/h2>\n

The present price activity of Cardano<\/a> paints a complicated picture. Although the recent increase gives some hope, the technical signs and dwindling volume point to a likely continuation of the downturn.<\/span>
\n<\/span><\/p>\n

The rise in active addresses is an encouraging sign of possible revived interest even though its influence is yet uncertain. It will take time to determine if ADA can climb with more assurance from the dark clouds.<\/p>\n

Cardano’s Uphill Battle: Price Struggles For Traction<\/strong><\/h2>\n

May began her ADA holders with a glimmer of hope.<\/span> Three days of rallies later, the price rose from $0.45 to $0.46. Still, a string of losses quickly wiped out these increases, bringing the price back to the $0.45 range\u2014that is, where it had been. This series of pauses and starts highlights how ADA lacks regular thrust.<\/span>
\n<\/span><\/p>\n

<\/p>\n

Total crypto market cap currently at $2.294 trillion. Chart: TradingView<\/a><\/pre>\n

A minor increase as of today has taken ADA back to the $0.45 zone, providing a brief relief. But hidden under the surface is the ongoing bear trend, verified by the Relative Strength Index (RSI) sitting slightly around 40.<\/span> This statistic points to weak purchasing power and possible more price swings.
\n<\/span><\/p>\n

\"\"Source: CoinMarketCap<\/pre>\n

Worse still, a technical indication called a “death cross” looms on the horizon. Usually indicating a bearish price trend, this sinister pattern results from the short-term moving average crossing above the long-term average.<\/span>
\n<\/span><\/p>\n

With ADA currently trading below both these averages, the threat of a death cross adds another layer of uncertainty to the price trajectory.<\/p>\n

Cardano’s Quiet Streets: Trading Volume Dampens Enthusiasm<\/strong><\/h3>\n

The Cardano network’s trading activity hasn’t exactly been explosive.<\/span> Originally rising to around $400 million at the start of May, the volume has dropped to about $275 million now. This notable reduction points to a loss of investor interest, which could slow down price rises.
\n<\/span><\/p>\n

\"\"Source: Santiment<\/pre>\n

Usually, a good rise in volume corresponds with steady price increases, suggesting active buying and selling.<\/span> For Cardano, the subdued volume creates a worrisome picture of a market devoid of conviction.
\n<\/span><\/p>\n

Related Reading: Whispers In The Deep: Why Are Ethereum Whales Disappearing?<\/a><\/div>\n

Active Addresses Show Tentative Rise<\/strong><\/h3>\n

Cardano’s active addresses point to one lone shining light.<\/span> This statistic counts the distinct addresses engaged in network transactions. Seven-day active addresses have lately increased; the count ranges from around 155,000 to over 160,000.
\n<\/span><\/p>\n

Although this rise is positive, some analysts think it might not be enough to noticeably influence trade activity and cause a continuous price reversal.<\/p>\n

Featured image from InspiredPencil, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Third-generation blockchain platform Cardano (ADA) has been reflecting a mountain climber hanging on a flimsy ledge. Following a modest climb earlier this month, the price has dropped back, leaving investors wondering about the robustness of the present increase. Although a recent increase in active addresses suggests fresh interest, technical indicators and dwindling trading volume point to an uncertain future. Related Reading: 900 Million Telegram Users Send TON Token Soaring 15% \u2013 Details Cardano At A Crossroads The present price activity of Cardano paints a complicated picture. Although the recent increase gives some hope, the technical signs and dwindling volume point to a likely continuation of the downturn. The rise in active addresses is an encouraging sign of possible revived interest even though its influence is yet uncertain. It will take time to determine if ADA can climb with more assurance from the dark clouds. Cardano’s Uphill Battle: Price Struggles For Traction May began her ADA holders with a glimmer of hope. Three days of rallies later, the price rose from $0.45 to $0.46. Still, a string of losses quickly wiped out these increases, bringing the price back to the $0.45 range\u2014that is, where it had been. This series of pauses and starts highlights how ADA lacks regular thrust. Total crypto market cap currently at $2.294 trillion. Chart: TradingView A minor increase as of today has taken ADA back to the $0.45 zone, providing a brief relief. But hidden under the surface is the ongoing bear trend, verified by the Relative Strength Index (RSI) sitting slightly around 40. This statistic points to weak purchasing power and possible more price swings. Source: CoinMarketCap Worse still, a technical indication called a “death cross” looms on the horizon. Usually indicating a bearish price trend, this sinister pattern results from the short-term moving average crossing above the long-term average. With ADA currently trading below both these averages, the threat of a death cross adds another layer of uncertainty to the price trajectory. Cardano’s Quiet Streets: Trading Volume Dampens Enthusiasm The Cardano network’s trading activity hasn’t exactly been explosive. Originally rising to around $400 million at the start of May, the volume has dropped to about $275 million now. This notable reduction points to a loss of investor interest, which could slow down price rises. Source: Santiment Usually, a good rise in volume corresponds with steady price increases, suggesting active buying and selling. For Cardano, the subdued volume creates a worrisome picture of a market devoid of conviction. Related Reading: Whispers In The Deep: Why Are Ethereum Whales Disappearing? Active Addresses Show Tentative Rise Cardano’s active addresses point to one lone shining light. This statistic counts the distinct addresses engaged in network transactions. Seven-day active addresses have lately increased; the count ranges from around 155,000 to over 160,000. Although this rise is positive, some analysts think it might not be enough to noticeably influence trade activity and cause a continuous price reversal. Featured image from InspiredPencil, chart from TradingView<\/p>\n","protected":false},"author":557,"featured_media":606920,"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":[12333,142,12332,6664],"class_list":["post-606887","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ada","tag-altcoins","tag-cardano","tag-crypto"],"acf":[],"yoast_head":"\nCardano Trading Activity Goes Quiet: Will This Drag Down Price?<\/title>\n<meta name=\"description\" content=\"Third-generation blockchain platform Cardano (ADA) has been reflecting a mountain climber hanging on a flimsy ledge. 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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:\/\/wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Cardano (ADA) Trading Activity Goes Quiet: Will This Drag Down The Price?","url":"http:\/\/wncen.com\/news\/cardano-ada-trading-activity-goes-quiet-will-this-drag-down-the-price\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/cardano-ada-trading-activity-goes-quiet-will-this-drag-down-the-price\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/a_0f39a6.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/a_0f39a6.jpg?fit=2560%2C1707"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ada","altcoins","cardano","crypto"],"dateCreated":"2024-05-07T14:00:30Z","datePublished":"2024-05-07T14:00:30Z","dateModified":"2024-07-12T04:42:29Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Cardano (ADA) Trading Activity Goes Quiet: Will This Drag Down The Price?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/cardano-ada-trading-activity-goes-quiet-will-this-drag-down-the-price\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/cardano-ada-trading-activity-goes-quiet-will-this-drag-down-the-price\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/a_0f39a6.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/a_0f39a6.jpg?fit=2560%2C1707\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ada\",\"altcoins\",\"cardano\",\"crypto\"],\"dateCreated\":\"2024-05-07T14:00:30Z\",\"datePublished\":\"2024-05-07T14:00:30Z\",\"dateModified\":\"2024-07-12T04:42:29Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/a_0f39a6.jpg?fit=2560%2C1707","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/606887"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=606887"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/606887\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/606920"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=606887"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=606887"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=606887"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}