Cardano’s December Slide Intensifies: What’s Driving the Decline and What Com...
Cardano (ADA) has opened December under pressure, dropping more than 7% in the past week as broader market sentiment weakens and macroeconomic uncertainty rises. Related Reading: Bitcoin Long-Term Holders See First Uptick Since April Lows: Bullish Sign? ADA is now trading near $0.38–$0.4, testing key support levels and extending a month-long downtrend that has erased recent gains. ADA's price gains some small gains on the daily chart. Source: ADAUSD on Tradingview Macroeconomic Pressure and Market Sentiment Weigh on ADA The latest decline comes amid renewed concerns over global interest....
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Cardano (ADA) is getting the “2020 blastoff” treatment again — at least if you ask Quantum Ascend, a technical analyst on X who says the chart is starting to rhyme with the setup that preceded ADA’s last major run. In a Dec. 13 video shared on X, Quantum Ascend (@quantum_ascend) told followers he’s been working through a longer-term weekly count and thinks the market may be grinding toward the end of a drawn-out corrective structure. The punchline: a “conservative” target zone around $4.88–$5.50, and a “primary” bull-run target of $10.40. “Cardano Mirroring 2020 Blastoff Moment,” his post....
Bitcoin further sank to about $17,750 for the first time since December 2020 Saturday afternoon, as the selloff in the crypto market intensifies. Bitcoin’s price is still falling steadily and is currently testing the 2017 all-time high range of $17,000 to $20,000. However, the descent shows no indication of abating, and analysts are are not quite sure to call a bottom at this time. The following hour, Ethereum followed suit and went below $1,000. These numbers were feared as crucial support levels for the top two coins by market capitalization. Suggested Reading | Ether Drops....
Bitcoin price decline intensifies. Many participants are expressing anger at the prospect. However, remember that you share this market with bitcoin price whales – some of them orcas feeding on your buy positions, right now. Bitcoin price decline intensifies under the bearish conditions emphasized in yesterday’s analysis post. It’s been a long time since we’ve seen the bitcoin price charts so bearish across timeframes. Of course, there is no other asset out there that even comes close to Bitcoin’s super-fundamentals (censorship resistance, cryptographic security, mathematical consensus),....
Cardano’s Mary upgrade and token gains are poised to compete with Ethereum, while metrics suggest that Ethereum is still king. The Cardano Foundation's coin ADA, hit its all-time high of $0.97 on Feb. 12, having started the year trading at $0.18, thus entailing 438% gains year to date. Apart from the macro trends in the cryptocurrency industry driving up the price of flagship assets, such as Bitcoin (BTC) and Ether (ETH) translating to other altcoins, such as LINK, DOT, etc., Cardano’s growth could also be attributed to the network updates that Cardano has been running on its blockchain....
Fundstrat’s Tom Lee disclosed in a recent interview that last month’s flash event is still echoing through crypto markets, and that those ripples help explain Bitcoin’s recent slide. Related Reading: Over 65 Crypto Firms Unite In Letter To Trump: Lead Or Fall Behind According to Lee, the shock on October 10 damaged key market makers—firms […]