Cardano

Bitcoin

Reversal

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/cardano-shows-signs-of-potential-reversal/" data-wpel-link="internal">Cardano Shows Signs of Potential Reversal</a><br></p>
<p style="text-align: justify">In the cryptocurrency market, the altcoin Cardano (<a href="https://en.coin-turk.com/can-cardano-ada-find-a-clear-price-direction/" data-wpel-link="internal">ADA</a>) continues to draw attention. ADA’s price has seriously followed the downturn in the cryptocurrency market. <strong>ADA</strong> is trading at $0.43 at the time of writing. A recent report has indicated signs that the price for ADA might reverse.</p> 
<h2 style="text-align: justify" id="santiment-report-points-to-this-reality-for-cardano-ada">Santiment Report Points to This Reality for Cardano (ADA)</h2> 
<p style="text-align: justify">Specifically, according to the latest report by crypto analysis firm <strong>Santiment</strong>, the ADA whale metric shows signs of a potential reversal in the price of Ethereum’s (ETH) competitor. As of Monday, Cardano whale transactions, valued over $100,000, have reached their highest level since November 8. According to Santiment, these sudden increases in whale activity are often associated with potential price reversals. Particularly, the 43% drop in ADA’s market value underscores the significance of this whale activity.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-346632 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/ada-coin-turk-com-.png" alt="" width="1000" height="704"></p> 
<p style="text-align: justify">ADA’s current price is at $0.43. This crypto asset, ranked 11th by market value, has shown a decline of about 4% in the last 24 hours. Over the past month, it has lost more than 37% of its value. <strong>Santiment</strong>‘s report indicates that the crypto trading volume has dropped to its lowest level since the first week of January. This situation shows that investors are indecisive about the market.</p> 
<h2 style="text-align: justify" id="decline-in-bitcoin-s-trading-volume">Decline in Bitcoin’s Trading Volume</h2> 
<p style="text-align: justify">According to Santiment, <strong><a href="https://en.coin-turk.com/binance-ceo-dismisses-rumors-about-bitcoin-sale-amid-market-rumblings/" data-wpel-link="internal">Bitcoin</a></strong> (<a href="https://en.coin-turk.com/spot-bitcoin-etfs-experience-76-million-outflow-on-seventh-day/" data-wpel-link="internal">BTC</a>), the flagship of cryptocurrencies, is facing a similar situation. BTC is trading below $58,000 at the time the article was written. The leading cryptocurrency, BTC, has experienced a decline of more than 7% in the last 24 hours. There has been a value loss of 13% compared to last week and more than 20% compared to last month.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-346633 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/cardano-coin-turk-com-.png" alt="" width="1007" height="698"></p> 
<p style="text-align: justify">Analysts point out that the cryptocurrency Bitcoin has experienced a significant drop in trading volume. Since the last big trading week of February, the trading volume of the cryptocurrency BTC has declined by 60-65%. However, they note that this situation could be a potential signal for a reversal. Particularly, they emphasize the importance of monitoring an increase in volume in May for a market-wide rally.</p> 
<p style="text-align: justify">The cryptocurrency market, filled with this uncertainty and fluctuations, continues to be an area that investors should watch carefully.</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/cardano-shows-signs-of-potential-reversal/" data-wpel-link="internal">Cardano Shows Signs of Potential Reversal</a></h5>

Cardano Shows Signs of Potential Reversal

Table of Contents

COINTURK NEWS

Other articles published on May 1, 2024

Bitcoin Euphoria Cools Off As BTC Distribution Enters Fear Zone

Bitcoin is trading below $60,000: The crypto market is in the red

Cardano: 2.5 Billion ADA Face Critical Test at Key Level

Cosmos Price Prediction: ATOM Pumps 4% Amid The Crypto Flash Crash As Experts Say This 2.0 Meme C...

KMNO Token Now Tradable on Jupiter Exchange

Ripple’s (XRP) Bullish Q2 Price Outlook; NEAR Protocol Gains Traction; RECQ Favored By Whales

Join our free newsletter for daily crypto updates!