{"id":151180,"date":"2023-09-07T05:38:22","date_gmt":"2023-09-07T00:08:22","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=151180"},"modified":"2023-09-07T05:38:22","modified_gmt":"2023-09-07T00:08:22","slug":"cardano-price-prediction-heres-why-im-not-bullish-on-ada-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/cardano-price-prediction-heres-why-im-not-bullish-on-ada-crypto-news\/","title":{"rendered":"Cardano Price Prediction – Here’s Why I’m Not Bullish On ADA – Crypto News"},"content":{"rendered":"

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Cardano (ADA<\/a>) price is not looking very bullish as the coin remains in an downtrend. The selling pressure seems to have significantly increased since last month\u2019s sell-off in cryptocurrencies. ADA coin is trading only 16% above its yearly lows.<\/p>\n

On Wednesday, most altcoins are trading sideways as BTC remains stuck in a very narrow trading range. The volatility has significantly decreased in the past few days. There is also a sharp decline in trading volume. Nevertheless, the analysts expect a major move in the coming days.<\/p>\n

ADA Transaction Volume Soars 1700%<\/h2>\n

According to the latest Cardano news, the network activity has significantly increased in the past few months. The latest on-chain data suggests that the transaction volume on the Cardano blockchain has surged 1700% since January 2023.<\/p>\n

The increase in on-chain activity can also be confirmed by a TVL increase since the start of 2023. The total locked value (TVL) on Cardano has increased more than 200% since the start of this year. Currently, there is more than $155 million locked on the smart contract platform. However, Cardano price is yet to react to these bullish developments.<\/p>\n

\"\"<\/figure>\n

Cardano Price Prediction<\/h2>\n

Technical analysis of the ADA price chart reveals the areas of support and resistance. The following chart shows that the price has been respecting a downward trendline since April 2023. If the price fails to break out from this trendline anytime soon, I expect the continuation of the bearish leg.<\/p>\n

Cardano price prediction of $0.10 will be on the cards if it gains acceptance below $0.22. Bitcoin\u2019s breakdown below $25,000 may a catalyst for such a bearish move. The first major resistance level for the bulls remains the $0.30 support level.<\/p>\n

I\u2019ll keep posting my updated Cardano analysis and my personal trades on Twitter<\/a>, where you are welcome to follow me.<\/em><\/p>\n

\"Cardano\"Cardano
ADA Price Chart<\/figcaption><\/figure>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Cardano (ADA) price is not looking very bullish as the coin remains in an downtrend. The selling pressure seems to have significantly increased since last month\u2019s sell-off in cryptocurrencies. ADA coin is trading only 16% above its yearly lows. On Wednesday, most altcoins are trading sideways as BTC remains stuck in a very narrow trading […]<\/p>\n","protected":false},"author":2,"featured_media":151181,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-151180","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/151180","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=151180"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/151180\/revisions"}],"predecessor-version":[{"id":151187,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/151180\/revisions\/151187"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/151181"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=151180"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=151180"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=151180"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}