Cardano
Cardano price analysis: ADA shows dormancy at $0.420 after bearish run
Cardano price analysis shows rising signs as the market shows downside risks. The bears have somewhat regained their control of the Cardano market, which will change the course of the market for the worse, and ADA now expects a complete bearish period to take over in the next few days. However, the bulls will do everything in their power to regain their control.
The market shows the price of Cardano crashed yesterday to the $0.408 mark but spiked soon after to $0.435. Cardano continues a slight negative movement. However, Cardano prices decreased the next day, on July 13, 2022, again and reached $0.43. On July 14, 2022, ADA currently trades at $0.420; ADA has been down 1.64% in the last 24 hours with a trading volume of $994,451,298 and a live market cap of $14,193,467,303. ADA currently ranks at #8 in the cryptocurrency rankings.
ADA/USD 4-hour price analysis
Cardano price analysis for 4-hours illustrates that the present condition of the market demonstrates negative potential as the price moves downwards. Moreover, the market’s volatility follows a decreasing movement, resulting in the cryptocurrency being less prone to volatile change on either extreme. As a result, the upper limit of the Bollinger’s band rests at $0.450, serving as the strongest resistance for ADA. Conversely, the lower limit of the Bollinger’s band is present at $0.410, serving as a support point for ADA.
The ADA/USD price travels under the Moving Average curve, indicating the market is following a bearish movement. However, as the market experiences low volatility today, the Cardano price has significantly less room to move towards either extreme. In addition, the ADA/USD price seems to move downward, signifying a decreasing market with further decreasing dynamics.
Cardano price analysis reveals that the Relative Strength Index (RSI) score is 38 making the cryptocurrency enter the undervalued region. Furthermore, the RSI score moves upwards, indicating that buying activity is dominant while moving towards stable dynamics.
Cardano price analysis for 1-day
Cardano price analysis for 1-day has experienced a fluctuating movement in the last few days. However, with the volatility increasing. Moreover, as the volatility opens, it makes the value of the cryptocurrency more volatile to change. As a result, the upper limit of the Bollinger’s band rests at $0.501, serving as the most substantial resistance for ADA. Contrariwise, the lower limit of the Bollinger’s band rests at $0.418, serving as another resistance point for ADA.
The ADA/USD price appears to be crossing under the Moving Average curve, displaying bearish momentum. However, the support and resistance are opening in, indicating increasing volatility with massive room for further activity on either extreme. Hence, the price moves upwards towards increasing characteristics, but only after breaking the support band.
The Relative Strength Index (RSI) score appears to be 38, showing the cryptocurrency’s minimal value. It falls in the devaluation region. However, the RSI score follows a decreasing movement signifying a stable market and gestures toward consistent dynamics. In addition, the dormant RSI score indicates selling activity equal to buying activity.
Cardano Price Analysis Conclusion
Cardano price analysis conclusion reveals the cryptocurrency’s value to be decreasing. The ADA/USD might soon enter a downright bearish dominion, decreasing the price of Cardano as they go. The bears are expected to make a move soon; as the support breaks, the bulls gain a substantial chance to retake the market and raise the value of Cardano.
Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
Popular Cardano-based decentralized exchange WingRiders has lost its position as the most valuable DEX on Cardano.
WingRiders slumped from the first position to third after losing more than 59% of the total value locked (TVL) on the platform in the past 30 days.
At the time of writing this line, WingRiders is now the third-largest DEX by total value locked, with a TVL of $19.66 million. It is noteworthy that WingRiders maintained the top spot for more than two months, claiming 42% of TVL On Cardano. However, the DEX has fallen from glory ever since.
Minswap Is Now Cardano’s Most Valuable DEX
The development also affected the total value locked on Cardano. The total value locked on Cardano has fallen below $100 million in the last 30 days after the WingRiders TVL slumped.
Interestingly, Minswap has taken the lead to become the most valuable decentralized exchange on Cardano after the massive decline of WingRiders’ TVL.
At press time, Minswap is leading, with a $49.09 million total value locked on the platform. The DEX hit the milestone after recording a massive growth of 30.9% in its TVL in the past 30 days. Minswap accounts for 51.82% of the total value locked on Cardano.
SundaeSwap, the first decentralized exchange on Cardano, is now the second most valuable DEX in the ecosystem. SundaeSwap is second in the ranking, with $19.72 million in TVL.
Like WingRiders, SundaeSwap has also lost a significant amount of its TVL over the past 30 days. In the past month, SundaeSwap has lost nearly 10% of the funds locked on the platform.
Commenting on the development, Cardano Daily, a platform that shares new developments about Cardano, said:
“After the major decline of @wingriderscom, the TVL scenario of the Cardano ecosystem has stabilized back to normal as we have seen in the past few weeks. @MinswapDEX still led the ecosystem with $51M TVL, contributing 50% of the ecosystem.”
CARDANO TVL STATUS
After the major decline of @wingriderscom, the TVL scenario of the @Cardano ecosystem has stabilized back to normal as we have seen in the past few weeks. @MinswapDEX still led the ecosystem with $51M TVL, contributing 50% of the ecosystem#tvl #cardano $ADA pic.twitter.com/xjZ6cHo8jX
— Cardano Daily (@cardano_daily) August 9, 2022
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