Cardano To Shed Its Gains? Profit-Taking Spikes To High Levels
On-chain data shows the profit-taking among Cardano investors has spiked to high levels, a sign that the asset may register a decline in the coming days. Cardano Has Observed High Profit-Taking After The Rally According to data from the on-chain analytics firm Santiment, AAVE, ADA, and CRV are among the altcoins that have recently observed the most extreme profit-taking. The relevant indicator here is the “ratio of daily on-chain transaction volume in profit to loss,” which, as its name suggests, tells us about how the profit-taking volume of any cryptocurrency compares with....
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Coming from below $1 with a 2,000% profit year-over-year, Cardano (ADA) continues to outperform Bitcoin, Ethereum, and other cryptocurrencies in the top 5 by market cap. As of press time, ADA trades at $2,30 with 9.8% profit in the daily chart. Related Reading | Shiba Inu Beats Out Cardano, Dogecoin On Top 10 Watch-Listed Tokens Following the general market sentiment, Cardano seems poised for further upside with an important resistance at $2.5. As seen in the chart below by Material Indicators, ADA (price in blue) experienced a massive rally from the lows of its current range.....
Monster gains for Cardano over the last two weeks have seen ADA grow 80% in value during this period. In doing so, the early hours of today saw ADA hit a price of $2.56, making a new all-time high. Bears have since stepped in to dip the price before finding support at $2.45. The rest […]
Bitcoin is getting livelier at current six-week highs, data shows, as profit-taking comes back into the spotlight. Bitcoin (BTC) asleep for up to a decade is waking up this week as BTC price action sees six-week highs.Data from on-chain analytics firm Glassnode shows some of the oldest “dormant” bitcoins returning to circulation.BTC trends out of hibernationAs BTC/USD stages something of a comeback in the second half of October, hodlers are changing their behavior after a year-long bear market.According to Glassnode, the number of bitcoins previous stationary in their wallet for 7-10 years....
Cardano (ADA) surged past the $1 mark over the weekend, marking a significant milestone in its recent rally. However, after reaching a multi-year high of $1.15, the cryptocurrency is now navigating a 17% correction as profit-taking sets in. Despite the pullback, the long-term outlook for Cardano remains bullish, fueled by renewed market momentum over the past three weeks. The price action reflects a maturing market, with ADA consolidating gains and building a foundation for its next move. On-chain data from IntoTheBlock highlights robust growth in network activity, signaling increased....
ADA, a cryptocurrency backed by blockchain network Cardano, reached its best levels in the previous three years amid a major capital influx from Bitcoin to the altcoin market. The ADA/USD exchange rate hit $0.51 after rising more than 15 percent during the Asian session Friday. The pair’s gains appeared as a part of a broader […]