Cardano

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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/cardano-sees-mixed-market-signals/" data-wpel-link="internal">Cardano Sees Mixed Market Signals</a><br></p>
<p style="text-align: justify">After experiencing a two-day downward trend, the latest upward trend in Cardano (<a href="https://en.coin-turk.com/ergo-announces-user-interface-for-rosen-bridge-enhancing-interoperability-with-cardano/" data-wpel-link="internal">ADA</a>) will definitely be welcomed by its holders. However, a question now arises in minds. Is there any criterion indicating a sustainable run for ADA? There seems to be a slight positive trend, but this has not yet reflected in the <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">price</a> increase.</p> 
<h2 style="text-align: justify" id="ada-shows-a-slight-positive-trend">ADA Shows a Slight Positive Trend</h2> 
<p style="text-align: justify">Recently, Cardano’s price trend has been volatile. A positive start was made with a three-day consecutive rise observed from May 1 to May 3. However, the price only increased from about $0.45 to $0.46. These gains were then reversed by subsequent declines, and the price fell back to around $0.45. The downtrend following the uptrends indicates a lack of sustainable momentum.</p> 
<p style="text-align: justify">Currently, ADA has returned to the $0.45 price region with a decrease of about 1%. However, the Relative Strength Index (RSI) hovering just above 40 indicates that the bear trend is still ongoing. The price chart points to a potential death cross if ADA fails to maintain its uptrend.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-348608 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/ada-1.png" alt="" width="1815" height="798"></p> 
<p style="text-align: justify">A death cross occurs when the long moving average (green line) crosses above the short moving average (orange line) and usually indicates a negative price trend. Currently, the price is trading below the blue and yellow lines, indicating ongoing uncertainty in ADA’s price trajectory.</p> 
<h2 style="text-align: justify" id="cardano-volume-shows-decreased-trading-activity">Cardano Volume Shows Decreased Trading Activity</h2> 
<p style="text-align: justify">In recent days, a decrease in volume has emerged as a concerning development for the Cardano (ADA) community. Volume analysis indicates that the cryptocurrency has not shown strong momentum lately. At the beginning of the month, ADA’s volume had risen above $400 million and briefly exceeded the $500 million mark. However, a significant decline in volume followed this impressive rise.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-348609 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/santiment-ada.png" alt="" width="2560" height="867"></p> 
<p style="text-align: justify">As of today, ADA’s volume is around $279 million. This situation, especially considering recent fluctuations, can be regarded as a concerning decline. Generally, increases in volume reflect rising trading activity and can determine the direction of <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">prices</a>. However, the current downtrend is considered a sign of a decrease in trading activities in the <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">market</a>.</p> 
<h2 style="text-align: justify" id="cardano-sees-a-slight-increase-in-active-addresses">Cardano Sees a Slight Increase in Active Addresses</h2> 
<p style="text-align: justify">Cardano’s seven-day active addresses metric has shown a notable increase recently. According to Santiment’s data, the number of active addresses rose from about 159,000 to over 163,000 between May 4 and today.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-348610 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/ada-coin.png" alt="" width="2560" height="867"></p> 
<p style="text-align: justify">However, it is somewhat difficult to say that this increase is significant enough to affect trading activities on the Cardano network. The increase in active addresses is not directly linked to the transactions occurring on the network. The active addresses metric only shows which addresses have made transactions on the Cardano network, but does not provide information about the nature of these transactions.</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-sees-mixed-market-signals/" data-wpel-link="internal">Cardano Sees Mixed Market Signals</a></h5>

Cardano Sees Mixed Market Signals

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