Based

Cardano

Strong

Billion

<figure>
 <figcaption>
  Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
<p dir="ltr">Cardano (ADA) is looking to step out of its long-term negative price trend; however, crucial resistance lies ahead. Based on price data at the moment, Cardano has jumped by more than 3% in 24 hours to $0.3837. Whether or not this rebound is sustainable remains to be seen; however, traders' focus is different.</p>
<h2 id="strong-cardano-resistance-wall">Strong Cardano resistance wall</h2>
<p dir="ltr"><a href="https://app.intotheblock.com/coin/ADA/deep-dive?group=financials&amp;chart=inAndOut" rel="noopener noreferrer nofollow">According</a> to data from IntoTheBlock, Cardano attained breakeven at an average price of $0.3722. After flipping this level that served as resistance over the past week, ADA is now eyeing the next level.</p>
<p dir="ltr">Ideally, the price could jump to $0.4 if the mild positive sentiment is sustained. However, growing beyond this level is where the concern starts from. The IntoTheBlock data shows that as many as 4.81 billion ADA might trigger a massive resistance around the price range of $0.419795 to $0.479247.</p> <img data-entity-type="file" data-entity-uuid="32893a59-229d-4ce5-b6ee-2a4aa7647cab" src="https://u.today/sites/default/files/inline-images/Cardano%20IO%20Chart.jpg"><a href="https://app.intotheblock.com/coin/ADA/deep-dive?group=financials&amp;chart=inAndOut" rel="noopener noreferrer nofollow">Cardano In/Out of The Money Chart Via IntoTheBlock</a>
<p dir="ltr">At this price level, more than 432,320 addresses might sell the coins, placing an intense strain on Cardano’s rally. In ADA’s push to regain its 52-week high, there are other resistance levels to watch; however, beating the nearest appears daunting because of broader market dynamics.</p>
<h2 id="cardano-not-slowing-down">Cardano not slowing down</h2>
<p dir="ltr">The price action of ADA might be less impressive for members of its community, but its efforts toward development tell a different story. Besides constantly ranking as a top protocol in&nbsp;<a href="https://u.today/cardano-ada-outshines-ethereum-eth-in-developer-activity" rel="noopener noreferrer nofollow">developer activities</a>, the team launches usable products for the community.</p>
<p dir="ltr">As reported earlier by U.Today, Cardano recently&nbsp;<a href="https://u.today/cardano-makes-strides-in-gaming-space-with-new-milestone" rel="noopener noreferrer nofollow">introduced a new game</a> that Charles Hoskinson considered a significant milestone for the ecosystem.</p>
<p>While pushing for recovery, whale activities on Cardano are also a major factor to watch. Recently, this metric&nbsp;<a href="https://u.today/cardano-ada-skyrockets-1218-in-whale-inflows-whats-going-on" rel="noopener noreferrer nofollow">skyrocketed by 1,218%</a> to show more traders are betting on the coin. With all eyes on ADA, the general market trend is a key factor that might change the narrative.</p>

4.81 Billion Cardano (ADA) Sell Wall Sparks Fresh Concern

目錄

U_Today

在 2024年7月10日發表的其他文章

Confidently Send Multiple NFTs in Bulk

Agoric Unveils Orchestration for Next-Gen Web3 Applications

Avalanche Gains Momentum by Surpassing $23.50

$PONZIO Achieves Unprecedented Success in Memecoin Space with its Innovative Debase Mechanics

We Keep Building: The Polkastarter Journey for 2024-2025

Cardano Price Analysis: How Chang Hard Fork Can Drive ADA Rally to $0.6

訂閱免費電子報，每天收取加密貨幣最新動態！