Cardano שטייט אויס אויף די דעוו טעטיקייט פראָנט; קענען ADA לעבן אַרויף צו די כייפּ

• ADA’s price action and a few metrics look positive 
• However, market indicators were against a price hike

Cardano's [ADA] development activity again helped the altcoin step into the limelight as it outperformed פּאָלקאַדאָט [DOT]. Recall that DOT has been dominating the market in terms of development activity for quite some time.

Apart from Cardano, Polkadot, and Kusama געמאכט עס צו די שפּיץ דריי אויף דער רשימה.

Blockchain development activity is one way to measure growth & potential.

The top 6 ecosystems with the most activity over the past 30 days:

1.$ADA @ קאַרדאַנאָ
2.$DOT @פּאָלקאַדאָט
3.$KSM @קוסאַמאַנעטוואָרק
4.$ATOM @ קאָסמאָס
5.$MANA @ דיסענטראַלאַנד
6.$ETH @ עטהערעום pic.twitter.com/5Jhxk6o7bb

— Passive Income Princess 👑 (@BrianneFrey) דעצעמבער קסנומקס, קסנומקס

Not only in terms of development activity, ADA also managed to register an uptick on the price front, as its price increased by more than 2% in the last seven days. As per CoinMarketCap, at press time, ADA was טריידינג ביי $ 0.2637 מיט אַ מאַרק קאַפּיטאַליזיישאַן פון איבער $ 9 ביליאָן.

זענען דיין ADA פאַרמעגן פלאַשינג גרין? קוק די Profit Calculator

Will the year end well?

While ADA’s price and development activity went up, several other interesting movements were noted on Cardano’s on-chain metrics. These metrics gave a fair idea about the direction in which ADA was headed.

א שטייגער, אַדאַ’s Market Value to Realized Value (MVRV) Ratio went up over the last week. This increases the chances of a continued price surge. Furthermore, ADA managed to gain interest from the derivatives market as its Binance funding rate also increased.

Moreover, ADA’s social dominance also registered a spike ast week, establishing its popularity in the crypto industry. However, קאַרדינאָ’s velocity decreased over the last few days, which might be troublesome for the network.

מקור: סאַנטימענט

לייענען Cardano's [ADA] פּרייס פאָרויסזאָגן 2023-24

The indicators say…

סאַפּרייזינגלי, אַדאַ’s market indicators painted a bearish picture for the coin. The Exponential Moving Average (EMA) Ribbon revealed sellers’ advantage in the market as the 20-day EMA was resting below the 55-day EMA.

Cardano’s On Balance Volume (OBV) and Relative Strength Index (RSI) were both down as well. This could limit the chances of a northbound breakout in the short term. Nonetheless, the Chaikin Money Flow (CMF) registered an uptick, which provided the much needed hope to the investors. 

מקור: טראַדינגוויעוו