Flow

Cardano

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/cardano-investors-celebrate-price-increase/" data-wpel-link="internal">Cardano Investors Celebrate Price Increase</a><br></p>
<p style="text-align: justify">Following the market’s vertical drop, today’s rise in Cardano (<a href="https://en.coin-turk.com/cardanos-ada-surges-as-analysts-and-investors-take-notice/" data-wpel-link="internal">ADA</a>) pleased <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a>. ADA’s price increased by 17.35% over the past seven days. On the other hand, trading volume rose by 14.11% in 24 hours, reaching $339 million. According to data provided by CoinMarketCap, Cardano’s market value increased by 4% in the last 24 hours, reaching $14.9 billion. So why is ADA rising despite the prevailing market downturn?</p> 
<h2 style="text-align: justify" id="why-is-ada-rising">Why is ADA Rising?</h2> 
<p style="text-align: justify">The price fluctuation led investors and market analysts to scrutinize ADA. During this period, there was a clear increase in ADA’s whale activities. Data provided by IntoTheBlock showed that transactions by large investors rose from 14.51 million to 110.8 million between July 8 and 9.</p> 
<p style="text-align: justify">After a decline from 223.8 million on July 4 to 25 million on July 5, the subsequent value increase of 1218% excited investors.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-370293" src="https://coin-turk.com/wp-content/uploads/2024/07/ada-coin-turk-com.png" alt="" width="873" height="514"></p> 
<p style="text-align: justify">The rise in whale purchases can be interpreted as part of their forward-looking plans. This increase in whale activity also boosted demand for ADA, raising prices.</p> 
<h2 style="text-align: justify" id="ada-price-outlook">ADA Price Outlook</h2> 
<p style="text-align: justify">As of the time of writing, ADA’s rise was reflected in the charts. The Chaikin Money Flow (CMF), which indicates cash inflow and outflow in a cryptocurrency, showed a positive 0.07 for ADA. This can be interpreted as an inflow of funds into the market for purchasing.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-370292" src="https://coin-turk.com/wp-content/uploads/2024/07/ada-2-coin-turk-com-1.png" alt="" width="871" height="498"></p> 
<p style="text-align: justify">On the other hand, ADA’s Money Flow Index (MFI) was at 51, indicating an increase in buying pressure.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-370291" src="https://coin-turk.com/wp-content/uploads/2024/07/ada-3-coin-turk-com-1.png" alt="" width="878" height="404"></p> 
<p style="text-align: justify">The Relative Strength Index (RSI), closely monitored by market followers, was at 52 for Cardano, indicating a buying pressure above neutral.</p> 
<p style="text-align: justify"><img loading="lazy" decoding="async" loading="lazy" class="aligncenter size-full wp-image-370290" src="https://coin-turk.com/wp-content/uploads/2024/07/ada-4-coin-turk-com.png" alt="" width="885" height="242"></p> 
<p style="text-align: justify">The liquidation of long positions fell from $2 million to $0 at press time. The drop suggested positive market sentiment with investor confidence in the <a href="https://newslinker.co" target="_blank" rel="noopener" data-wpel-link="exclude">future</a> potential of altcoins.</p> 
<h2 style="text-align: justify" id="will-ada-s-price-rise">Will ADA’s Price Rise?</h2> 
<p style="text-align: justify"><strong>ADA</strong> rose to $0.4169 at press time after a 4.41% increase in 24 hours. If the increasing buying pressure continues, it could lead to a price rally.</p> 
<p style="text-align: justify">If the upward movement continues, the target value will be $0.457. If this level is surpassed, the price could rise to $0.521.</p> 
<p style="text-align: justify">Conversely, if the daily outlook shows a drop below $0.385, the upward thesis may be invalidated, and a move towards the $0.362 region may begin.</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-investors-celebrate-price-increase/" data-wpel-link="internal">Cardano Investors Celebrate Price Increase</a></h5>

Cardano Investors Celebrate Price Increase

Table of Contents

COINTURK NEWS

Outros artigos publicados em 12 de jul. de 2024

Huione Guarantee Marketplace Unmasked: Elliptic Exposes $11B Scam Network Involving Bitcoin, Ethe...

Bitcoin Faces Extreme Fear Again

Top Altcoin Picks: Cryptos Under $0.50 Poised for Breakout

Crypto exchange Payeer faces $10m fine for flouting EU sanctions on Russia

Ethereum HODLers lock 6400 ETH in Beacon Chain – Why it’s important

Top Airdrops to Claim Free Crypto

Join our free newsletter for daily crypto updates!