Convergence

Flow

Cardano

Divergence

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/cardanos-market-performance-and-prospects/" data-wpel-link="internal">Cardano’s Market Performance and Prospects</a><br></p>
<p style="text-align: justify">Last month, while the <strong><a href="https://coin-turk.com/ada-coin-neden-yukseliyor-cardano-son-durum" data-wpel-link="internal">ADA</a></strong> price experienced intermittent corrections in its weekly chart with a modest downtrend, it exhibited notable resilience and growth. Currently, <a href="https://en.coin-turk.com/cardanos-development-commitments-and-goals-for-2024/" data-wpel-link="internal">Cardano</a>‘s price is at $0.6973, with a slight 2.56% decrease on the four-hour chart. However, investor sentiment continues, and optimism prevails for potential future gains.</p> 
<h2 style="text-align: justify" id="cardano-s-market-value-and-expectations">Cardano’s Market Value And Expectations</h2> 
<p style="text-align: justify"><strong>Cardano</strong>‘s current market value is around $24.92 billion. This places it in a solid position among the top ten cryptocurrencies. In the last 24 hours, <a href="https://en.coin-turk.com/cardanos-price-surge-and-whale-activity/" data-wpel-link="internal">ADA</a>‘s trading volume saw a 48% decrease, dropping to $842 million. However, this could be the result of a minor market correction.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-329163 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/ada-cardano-coin-turk-com-.png" alt="" width="1484" height="639"></p> 
<p style="text-align: justify">Since the beginning of March, Cardano has shown nearly a 20% increase. However, efforts to surpass the critical resistance level of $0.76 seem to have failed. This development suggests that momentum could decrease.</p> 
<p style="text-align: justify">Over the past week, ADA’s price has shown variability, oscillating between $0.60 and $0.80, following a horizontal trend.</p> 
<h2 style="text-align: justify" id="increase-in-derivative-trading-volume">Increase In Derivative Trading Volume</h2> 
<p style="text-align: justify">In the last 24 hours, a significant increase was observed in Cardano. Accordingly, the derivative trading volume surged by an impressive 78%. If the bulls manage to break above Cardano’s $0.70 resistance level, an upward momentum is expected. This momentum could lead the cryptocurrency to test the significant $1 resistance level.</p> 
<p style="text-align: justify">However, after reaching $1, if market strength is insufficient, ADA’s value could decline and potentially fall to the support level around $0.8. Ongoing downward pressure could intensify the retreat, pulling the price towards a lower support level of $0.75 going forward.</p> 
<h2 style="text-align: justify" id="what-do-the-indicators-say">What Do The Indicators Say?</h2> 
<p style="text-align: justify">The Moving Average Convergence Divergence (MACD) metric indicates a positive trend. The MACD and signal lines are above the baseline, highlighting a strong bullish trend. The Chaikin Money Flow (CMF) indicator also reflects a positive trend at the 0.15 level, indicating an upward trend.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-329164 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/cardano-ada-coin-turk-com-1-2.png" alt="" width="1425" height="833"></p> 
<p style="text-align: justify">The Awesome Oscillator’s (AO) shift from green to red indicates a change from bullish to bearish momentum, while the Relative Strength Index (RSI) is at 51.47, showing that ADA is neither overbought nor oversold.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/cardanos-market-performance-and-prospects/" data-wpel-link="internal">Cardano’s Market Performance and Prospects</a></h5>

Cardano’s Market Performance and Prospects

Table of Contents

COINTURK NEWS

Other articles published on Mar 16, 2024

Unveiling the Hidden Powers within Blockchain: What Is Maximal Extractable Value (MEV)?

Mozaic Hack: Insider Steals $2.1 Million, Moz Price Plummets by 75%

Temporal Forces Expansion Shakes Up Pokemon TCG Landscape

Can Sponge V2 Repeat a 100x Surge In Its Upcoming Launch? Oscar Ramos Video Review

TOKEN2049 Brings Industry Leaders and Groundbreaking Concepts to Dubai

Best Crypto to Buy Now March 15 – Aptos, Fetch.ai, Conflux

Join our free newsletter for daily crypto updates!