Cardano

<p style="text-align: justify">The cryptocurrency market came under selling pressure after a strong rally earlier this week. Cardano (<a href="https://en.coin-turk.com/a-glimpse-into-the-future-of-cardano-ada/" data-wpel-link="internal" rel="noopener noreferrer nofollow">ADA</a>), which ranks high on the list of altcoins attracting significant investor interest, also experienced its share of the market-wide sell-off. So, what’s next for ADA according to on-chain data and technical analysis?</p>
<h2 style="text-align: justify" id="the-number-of-cardano-whales-transactions-is-rapidly-increasing">The Number of Cardano Whales’ Transactions is Rapidly Increasing</h2>
<p style="text-align: justify">On-chain data shows that the recent price rally of ADA is supported by a strong increase in blockchain activity and transactions by whales. Leading on-chain data platform Santiment reported that the altcoin’s price increased by over 10% on November 2nd and by 36% in the past two weeks.</p>
<p style="text-align: justify">According to Santiment, the price increase coincided with increased on-chain activity, wallet address activity, and whale transactions on the Cardano network, reaching levels not seen in the past three months.</p>
<p style="text-align: justify"><img decoding="async" class="aligncenter size-full wp-image-273173" src="https://coin-turk.com/wp-content/uploads/2023/11/Cardano-ADA-Altcoin-On-Chain.jpeg" alt="" width="1707" height="1069"></p>
<p style="text-align: justify">Furthermore, Cardano continues to show a strong presence in the decentralized <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">finance</a> (DeFi) market. According to DeFiLama data, the total value locked (TVL) in assets on the Cardano network has reached $215 million.</p>
<h2 style="text-align: justify" id="ada-price-analysis-and-expectations">ADA Price Analysis and Expectations</h2>
<p style="text-align: justify">ADA’s price is potentially gaining momentum to surpass the $0.325 resistance level. Additionally, a broader market recovery could initiate an early uptrend in Cardano, breaking through key resistance levels. If the price surpasses the $0.325 threshold, a breakout rally could pave the way for reaching $0.40 after surpassing $0.35. On the flip side, a pullback from $0.325 could lead to a retest of the $0.30 level.</p>
<p style="text-align: justify"><img decoding="async" class="aligncenter size-full wp-image-273172" src="https://coin-turk.com/wp-content/uploads/2023/11/Cardano-ADA-Grafigi.png" alt="" width="1024" height="481"></p>
<p style="text-align: justify"><a href="https://en.coin-turk.com/cryptocurrency-market-expected-to-transform-into-an-asset-management-industry/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Crypto</a> analyst John Morgan shared his expectations for ADA. In line with a research report, the analyst believes that the altcoin’s price could potentially increase by around 43% with a sudden surge in trading volume. As of the latest data, Cardano’s ADA is trading at $0.3196, recording a 2.40% increase in the past 24 hours.</p> Continue Reading: <a href="https://en.coin-turk.com/cardano-whats-next-for-ada-after-the-recent-sell-off/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/cardano-whats-next-for-ada-after-the-recent-sell-off/</a>

Cardano: What’s Next for ADA After the Recent Sell-off?

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