CandleFocus This 20-Month Spike Could Lead to a 21% Fall for Cardano (ADA)
2024-10-17
Author: Content Editor
The article states that Cardano (ADA) has experienced a downward trend in price over the past few days, with a 3% fall since Monday. On-chain data suggests that Cardano may face a price correction of up to 21% in the near term. The Network Value to Transactions (NVT) ratio for Cardano is currently at its highest level since February 2023, indicating potential overvaluation. The combination of falling price and rising NVT ratio reflects negative market sentiment. The declining Relative Strength Index (RSI) further supports this bearish outlook, indicating decreasing buying pressure and potential for further price decline. Cardano is currently testing the support level at $0.3479, and a breakdown of this support could lead to a 21% price drop to $0.27. On the other hand, if buying activity picks up and the support line is defended, Cardano may initiate a bullish trend towards $0.47.
Related News
Moo Deng tops list as normies’ favorite meme coin in street survey Chiliz Chain Partners with Crossmint for Sports-Focused Blockchain Solutions Ethereum Bulls Have Reason to Worry If L2s Remain Dominant, Says VanEck Analyst Why Worldcoin Built an Ethereum Network Specifically for Humans Aptos (APT) Price Could Surge 76% More If This Happens Binance Leads Crypto Market with $83.9B Weekly Trading Volume Edgelord 3AC’s bet on memecoin supercycle, seeks ‘racist cult leader’: Asia Express Injective (INJ) Eyes 54% Gains, Thanks to Upbit Boost Analysts Reveal the 11 Altcoins with the Most Growth in the Last One Week – Here’s the List DEXs struggle to compete with CEXs as futures trading volumes shift back Blockchain Capital leads $33 million Series C in African stablecoin exchange Yellow Card Sam Altman-backed Worldcoin project launches mainnet blockchain following a rebrand The Scoop: Growing optimism grants retail gains as VCs search for funding Elon Musk-Themed ‘X Empire’ Ends Telegram Gameplay Ahead of Airdrop Access Protocol Enhances Creativity with Sketch 2.0 and Scribe 2.0 Launch Solana (SOL) Price Rally Threatened by Waning Bullish Signals Bitget Wallet Partners with 1inch to Boost Multichain DEX Trading The ‘memecoin supercycle’ theory is converting crypto unbelievers Santiment Reveals the Metric It Claims Determines the “Peak” and “Bottom” in the Cryptocurrency Market Trader Joe Offers Comprehensive DeFi Solutions Bitcoin bears turn ‘giddy’ at prospect of sub-$60K BTC price Bitcoin Bulls Look to $70K Breakout—Can Support Hold? $DOGS Announces Global Treasure Hunt with $10,000 Reward and Exclusive NFT Assets Cardano Infrastructure Decentralization Proposal: What It Means for ADA Prices In the Ripple-SEC Case, Did the SEC Forget the Document It Should Deliver? Lawyer Shares Interesting Detail io.net Partners with ParallelAI to Boost Decentralized Computing for Generative AI Cardano Bullish Pattern Suggests A Breakout – Can ADA Reach $0.54? Telegram Meme Coin DOGS Leaves 99% Holders Underwater Chainlink’s Transformation: Staking and Self-Service as Key Drivers of LINK Network’s Evolution Solv Protocol launches staking token to bring Bitcoin yields to Solana TRON meme culture lags despite ambitions of flipping Pump.fun Top XRPL DEX Repels DDoS Attack: Details LUNC News: Orbit Labs Pushes for Forked Module Removal and Reverse Charge Tax on Terra Classic Science Behind Crypto Misconceptions: The Bandwagon Effect Venmo Now Offered as a Payment Method for MoonPay Users Ethereum Price’s Consolidation Won’t End Soon Amid Mixed Market Signals Staked Ether Is Creating a Benchmark for the Crypto Economy, Says ARK Invest SEC Sues the Founder of an Altcoin – Mistaken for an Altcoin on Binance, Price of Wrong Altcoin Plummets Bitcoin price drops under $67K as investors chase profit in stocks New Statement from the President of the Central Bank of Russia on Bitcoin and Cryptocurrency Payments! He Gave a Date! 5 key Factors Why Shiba Inu Price Might Reach $1 by October Is Microstrategy’s Bitcoin Leverage a Bigger Threat Than FTX? Vinny Lingham Suggests It’s Possible Venezuelans Crave USDT as Dollar Exchange Rate Explodes Bitcoin hashprice surges to two-month high, buoying miners Bitcoin Sees Highest Gains in Liquidity Booms, Outperforming NASDAQ and Gold, Will it Happen This Time? The fallacy of daily active addresses Will Tron (TRX) price retest $0.15 before hitting a new high? Kraken and Formula 1 Williams Racing Extend Partnership Truth Terminal may become the first bot with a million-dollar meme token portfolio US Fed Rate Cut of 50 Bps Clouded By Retail Sales and Jobless Claims; ECB Cuts Rate Bitcoin Is Only 9% From All-Time High, But a Reversal Might be Incoming Most US voters prefer a pro-crypto candidate — Grayscale CLO Toncoin (TON) Whales Amass $72 Million to Prevent Telegram Coin’s Collapse Ostium Labs, a startup building onchain perpetuals markets for traditional assets, launches mainnet Real Vision Crypto Analyst Jamie Coutts Says One Catalyst Could Trigger Bitcoin Explosion to Above $500,000 Will Bitcoin’s Upward Trend Continue? Analysis Company Shares Their Views Sam Altman's Eye-Scanning Orbs Can Now be Summoned 'Like a Pizza', Say Worldcoin Execs U.S. Election Betting: Federal Court 'Erred' in Letting Kalshi Launch Prediction Markets, CFTC Says BREAKING: Hot Statement from Montenegro’s Minister of Justice on the Fate of Terra (LUNA) Founder Trader Justin Bennett Issues Ethereum Alert, Says ETH Potentially Forming Bearish Pattern – Here Are His Targets HUMBL issued US patent for blockchain payments technology What Happened to the Millions of Dollars of Bitcoin Transferred by Tesla? Was it a Sale or Another Purpose? Here Are The Theories Nvidia’s new open-source AI model beats GPT-4o on benchmarks Expert Analyst Predicts 4,324% VeChain Rise to $1 After Hitting Key Channel Low Dogecoin Rises Above Key Resistance and Weekly Range, DOGE Hype Reigniting? Ethena (ENA) Might Be Primed for a 150% Uptick — Here’s Why Ambient Finance website hacked, team warns users to wait for fix BREAKING: Coinbase Announces New Altcoin Listing on Futures Ripple CEO Says IPO Is Not "High Priority" Meme Coins Blast Past Bitcoin Gains as Crypto Market Gets Frothy Again Bitcoin-focused protocol Surge nabs $1.8m to bring Move-based rollups To Succeed Bitcoin Needs Something New, Not More of the Same Sui’s Mysten Labs launches Walrus Protocol public testnet for decentralized storage $WLFI Token Sale Soars with Over $12.5M in Sales XRP Rockets 50% in Volume as SEC v. Ripple Appeal Drama Develops Bitcoin (BTC) Price Prediction for October 17 Hundreds of Liam Payne memecoins created minutes after his death Crypto pundits decry World Liberty Financial's lackluster sales, calling it 'a meme masquerading as a utility project' Veteran Investor Reveals Simple 500-Day Bitcoin Strategy for Optimal Gains BVNK and Circle Partner to Boost USDC Payments for Global Businesses ZKsync Era Unveils Solidity Compiler Update v1.5.6 for Huge Performance Gains The Future of Blockchain: Experts Share Insights on Privacy and Transparency Ripple Names Sheila Bair to Guide Launch of New Stablecoin Bitcoin to Hit New All-Time Highs in 2024? Market Survey Says Yes SEC v. Ripple: US SEC To Appeal Ruling On XRP, $125M Penalties, Lawyers Say Zilliqa 2.0 Jasper Testnet Launches with Faster Transactions Shiba Inu price prediction: can SHIB reach a $100 billion market cap? JPMorgan analysts say bitcoin miners face narrowing window of opportunity to secure AI data center deals Bitcoin rally to $68.4K may have been the Uptober top — Here’s why Meme Coins (DOGE, SHIB) to Hit $1 Triillion Market Cap This Cycle: Jeremie Davinci Top Solana Meme Coin dogwifhat (WIF) Forms Do-or-Die Pattern 'Bitcoin Is Chess,' Michael Saylor Says as BTC Price Rebounds Solana gets new meme coin trading terminal with Jupiter’s Ape Pro DOGE Price Prediction for October 17 FBI Arrests Suspect in SEC Twitter Hack That Pumped Bitcoin Altcoin Rally Won’t Happen Until 2025 As Bitcoin Eyes 60% Market Dominance Berachain airdrop odds are rising on Polymarket Hoskinson Explains Why This Venture Capitalist Snubs Cardano in Latest Crypto Report Top Analyst Says Another Pullback Could Be on the Table for Bitcoin, Updates Outlook on dogwifhat and Popcat Polymarket volume hits $2 billion with Trump leading election bets Faraway Launches Custom Avalanche L1, FCHAIN, to Expand Blockchain Gaming Ecosystem Avalanche News: Allegations of Centralization Raised by Crypto Leaks – Is AVAX at Risk? Ethereum Game 'Moonray' Coming to PS5—Without Crypto Features Hyve Unveils High-Performance Data Availability Protocol With 1 GB/s Throughput According to CoinGecko, the NFT market is still in a bear phase Want cheaper and safer interoperability? Drop traditional bridges Can crypto shape the Senate? Breaking down Warren and Deaton’s heated debate Stellar Lumens recovery stalls but more gains can’t be ruled out Polymarket users jockey over $50m ‘Trump coin’ bet Ark Invest calls blockchain and AI the key to revitalizing economy with deflation coming Shiba Inu Rises Back Above $0.00001800 And Resumes Its Rise Bitcoin Consolidates Near $67,000 as Global Markets Show Mixed Performance VeChain’s Unique Dual-Token System Boosts VET’s Long-Term Value in Enterprise Blockchain Why These Altcoins Are Trending Today — October 17 Coinbase CSO at Ripple Swell: New Ways to Track Crypto Scams Discovered Four Reasons Elon Musk’s Tesla May Have Moved $760M of Bitcoin India’s crypto tax is a gov’t attempt to ‘displace’ the tech — Lawyer Bitcoin miner MARA warns AI mirrors 2000s internet boom, firms risk overbuilding infrastructure: Bernstein Crypto trader turns $80k into $2 million in 6 days XRP Price Ready to "Go" as Lawyer Confirms SEC Appeal Dismissal $760 Million in 3 Days: BlackRock Bitcoin ETF Hits New Milestone Top Analyst Says Shiba Inu Poised for a Comeback Rally to $0.00004 Ripple Explores Partnership With Ex-PayPal CFO, XRP Price Eyes $1 Crypto Experts’ Top Blockchain Picks Revealed Missed SPX, MOG, WOJAK? Crypto Whale To Follow To Make Millions Paxos Launches Yield-Bearing Stablecoin on Injective MoonPay Partners with Ripple to Allow Customers to Buy XRP Directly Bitcoin traders see $70K BTC price as market trims Fed rate cut bets BNB Rejection At Key Level Hints At A Potential Price Correction Bitcoin Exchange Reserves Reach a 2-Year Low, But Analysts Disagree on Why Crypto Market Rallies as Trumps Polymarket Odds reach 62% Why Injective (INJ) Price Rockets 10% Suddenly? Shiba Inu Governance Update: Team Member Reveals Crucial Developments Decentralized vacation rental platform Dtravel joins Fetch.ai network Orderly Network launches the first omnichain orderbook on Solana Red alert as Ethereum price forms several dangerous patterns Can Injective (INJ) Continue Its Rally Following the Upbit Listing? This 20-Month Spike Could Lead to a 21% Fall for Cardano (ADA) Saakuru Labs and Memecore Launch $10M Foundation to Boost Gaming Ecosystem Ongoing Profit-Taking Could Slow Bitcoin's Move To Record High What's With XRP? $0.55 Denied ECB makes 25 bps rate cut as inflation drops to three-year low Dogecoin Price To $0.5 Ahead? Whale Sacks 87M DOGE Sparking Optimism Bittensor (TAO) Price May Tumble Below $500 Amid Growing Bearish Pressure Chiliz Slumps by 7% to $0.07366 as Trading Volume Slows Down Sharply Cardano (ADA) Eyes Breakout Amid Mixed Market Sentiment This Beat Up Old Honda Just Hit Every Crypto Hot Spot in Europe—Here’s Why WazirX to List Its 240,000 Wallets and Balances as Part of Debt Restructuring Two builders produce 88% of Ethereum blocks in October, raising concerns Crypto Scheme Settlement: Tennessee and GS Partners Resolve Misleading Digital Asset Investments XRP Set to Challenge $0.60 as It Trades Within a Bullish Channel Amid SEC Appeal Deadline 3 Reasons Why SOL Killed ETH & Why Solana Price Is Going to $1000 Ripple Partner Rulematch & SDX Integrate Crypto Solutions BNB Chain Issues Important Scam Warning to Users Shiba Inu (SHIB) Getting out of Trillionaire Club? Goldman Sachs Announces Its Estimate on When and How Much the FED Will Cut Interest Rates Next! Connect people and platforms: The identity-first path to decentralization | Opinion BREAKING! TCMB Announced Its Interest Rate Decision for October! Bitcoin exchange reserves drop to multi-year low amid rising institutional demand: CryptoQuant Crypto Exchange Kraken Launches Wrapped Bitcoin Token kBTC GraFun Starts Labs Division to Boost Memecoin Ecosystem on BNB Chain Hamster Kombat Season 2 lets players become CEOs, build game studios Trump’s Bitcoin U-turn: How the crypto critic became a pump signal Analyst Awaits Bitcoin Monthly Breakout Candle for Potential Multi-Month Rally SUI Price Holds $2, Rising Channel Targets $3 Resistance Shiba Inu (SHIB) Whales Prepare for Potential 30% Gain Amid Weakening Trend New bitcoin sextortion scams in Canada use photos of victims’ homes Bitcoin Market Dominance Reaches 3-Year High—What's That Mean? Cyprus Sets the Clock for Crypto Firms: October 30 Deadline Looms deBridge Token Goes Live With DBR Airdropped to 491K Wallets Shiba Inu Nears Key Barrier; Can SHIB Surge to $0.00003? BONK Targets $0.000041 as Double Bottom Fuels Breakout Rally Dogecoin Founder Stresses Crucial Role of Satoshi Nakamoto Andrew Tate’s ‘War Room’ harasses Coffeezilla over shitcoin enquiry MAGA, STRUMP, TREMP rally amid increasing odds of a Trump victory Institutions Eye RWAs and Tokenization as Ethena’s BUILD Fund Gains Traction Sonic Labs Integrates TRM Labs for Better Fraud Detection Tools These 2 Meme Coins Chart Biggest Daily Gains as Bitcoin (BTC) Maintains $67K (Market Watch) Scaramucci Calls Donald Trump’s Ongoing Token Sale a ‘Transparent Money Scam’ Upbit Announces Listing of a New Altcoin, Price Makes a Huge Jump! This Week’s DeFi Interest Rates: Best Yields for Lending and Saving Analyst Predicts 5,382% Gain for Shiba Inu, Unveils Three Price Targets Including $0.001 DeFi Report: Ethereum generated $261m in fees in Q3, its worst performance since Q4 2020 New Form C Deadline Suggests SEC Appeal Against Ripple is Still Alive Stellar ecosystem implements Blockaid security features Crypto price update: Ripple’s XRP, Apecoin, Pundi X, Ondo South Korea to Investigate AVAIL Altcoin Over Price Manipulation Concerns ApeCoin DAO Shuts Down Four Ineffective Groups Peter Brandt: $72K is Key for Bitcoin to Validate Higher Price Targets XRP Ledger (XRPL) to Get Major DID Upgrade Soon Bitcoin, Ethereum Price Charts Return to Google Search AI predicts Bitcoin price for Halloween 2024 'Bizzare Move': Ripple CTO Speaks out on SEC Appeal Fail Nansen integrates Solana analytics, touts memecoin alpha Animoca Brands Plans to Buy Back WATCoins Starpower Integrates IoTeX ioID: Powering 5M Transactions with Unmatched Transparency Spot Bitcoin ETFs see four straight days of inflows, surpassing $1.6b, Ether ETFs rebound Expert Says Ethereum Likely to Weaken in Q4 But Recover in 2025 as ETH/BTC Nears Bottom XRPL Labs Founder Votes to Reduce XRP Account Reserve Fee by 90% from 10 XRP to 1 XRP Donald Trump Wind Blows in Cryptocurrencies! A Mysterious Whale Spent $10 Million for Trump! Why are Bitcoin traders worried about a 'painful' BTC price dip? Coinbase Says Bitcoin Liquidity on Exchange Unfazed After SEC's Lawsuit Against Cumberland Ether price in 7-month decline amid ‘L1 wars,’ says analyst Key XRP Investors Could Spark Rally to $0.60 – Here’s Why Bitcoin (BTC) Breakout Confirmed: 3 Price Levels to Watch Next Bitcoin Flashing Bullish Signal That Previously Triggered Huge Run, Says Crypto Analyst – Here’s His Outlook Crypto market enters ‘greed’ zone as Bitcoin hikes further Expert Predicts $100B Market Cap For Shiba Inu With High Stake Bet, Here’s New SHIB Price Projection if This Happens A Second 2011 Bitcoin Wallet Moves $10M This Week—Could the Transfers Be Linked? Palau, German lender WIBank launch blockchain bonds Japanese CBDC by 2030 — XRP dream or dystopian nightmare? Gary Cardone Says XRP Launch Pad is Green, Set for Astronomic Price Surge Will SUI Price Hit $100 Despite $400M Insider Selling Allegation? Russia's Digital Currency Measures Fail to Satisfy FATF, Blacklist Possible Charts Show XRP Could Spike 10x to 500x During Alt Season When BTC Dominance Drops Top Analyst Says Monster Breakout Underway for One Memecoin, Says Six Altcoins Are His Fastest Horse Picks BONK spikes 8%, but bears mount resistance at critical levels RECRD Partnerships With Indian Bollywood Entertainment Giant Shemaroo Entertainment! Bitcoin trades at discount in Korea destroying historical ‘Kimchi Premium’ Solana Surpasses Ethereum: Is a Solana Bull Run Imminent? Binance Coin Analysis: Can BNB Price Hit $800 After This Signal Just Flashed? US lagging behind in global stablecoin adoption — Chainalysis Crypto Watch: Ethereum Poised for Upside Break! Fantom, BitTensor, Aptos: Top Altcoins to Watch for a Potential Pump in 2024 Here's How Long It Will Take TRON Price To Hit $0.5 From Here Bitcoin Price Holds Firm: Can It Power Toward New Gains? Coinbase Integrates ZetaChain Mainnet As A Default Network! BONK Price’s Bullish Breakout Signals 92% Rally as Open Interest Spikes Dogecoin (DOGE) Price Could Correct by 30% if Market Loses Steam Bitcoin Demand Surges in Bullish Catalyst That May Drive BTC Price to $70K Nishad Singh’s Lawyers Ask Judge to Spare Him Prison, Say He Is an 'Uncommonly Selfless Individual' Euroclear Enters Asia with Stake in Singapore’s Blockchain Infrastructure Firm Marketnode Gold Arrives on 'Digital Gold' as Bitcoin Gets Tokenized Version of the Metal SUI Bulls Look to Shake Off FUD, Set Sights on 20% Rally MetaMask wallet: has launched an integration with Unstoppable Domains Nigeria Receives Nearly $100,000 From Unlicensed Crypto Firms Understanding Bitcoin Treasury Strategies: Insights From Public Bitcoin Miners Like MARA Bitcoin Clears $65,000: Can The Bulls Push BTC To Historic Heights? AI ‘mind uploads’ could allow the dead to trade forever What’s Next for Crypto Mining in Russia? Leaders Discuss Taxes and Legislation XRP gains nearly 2% as traders digest SEC appeal timeline in lawsuit Bitcoin Set to Rise Beyond $70,000 in 'Coming Weeks,' Experts Say Here’s Why Shiba Inu’s Conference ShibaCon Got Postponed (Details) Trump-allied political action committee raises $7.5M in crypto Crypto security firm mistakenly shares drainer link to ‘help’ Radiant hack victims High-Risk Crypto Loans Surge to Highest Level in 2 Years, What Does This Mean? Dogecoin Gains 6%; Can DOGE Reach $0.14 by the Weekend? Vitalik Buterin Proposes Scaling Ethereum’s L1 for L2 Growth Base Becomes Largest Ethereum Layer 2 with $2.5 Billion TVL Affordable Cryptos Ready for a Strong Performance in 2024 Ethereum, L2s to reach over 100K TPS with ‘The Surge’ — Vitalik Buterin Stripe looking to acquire stablecoin payment network Bridge Finland’s Top 5 Crypto Exchanges: Unveiling the Nordic Powerhouses of Digital Asset Trading Revolutionizing Crypto Practice: Top Paper Trading Apps Unveiled Best Long-Term Crypto to Watch in October: XRP Shaping the Future of Payments DeFi remains popular amid explosion in crypto usage: a16z report 94% of Asian private wealth is investing or considering crypto: Report Hong Kong Chief Executive’s 2024 Policy On Virtual Assets New Crypto Coins to Invest in October 2024: Terra Classic and Hedera’s Recovery Outlook How High Will Chainlink Price Go in October? Is Cardano Price Ready to Break Free 4-Month Stagnation? Is $5000 Ethereum Price Possible In 2024? XRP Price: Will a 1000x Surge Ride on ETF Approval? Bitcoin Hits $68K As Japan To Announce Big Stimulus, Peter Brandt Predicts New ATH Ripple Moves Another 4M RLUSD, What's Happening? Top Crypto Gainers Today: Brett and MOG Revolutionize Community Engagement XRP Not Allowed Above $0.60, Dogecoin (DOGE) on Verge of Performing Vital Breakthrough, Bitcoin (BTC) Breaks 220-Day Downtrend Robinhood Targets Seasoned Traders With Bitcoin Futures, New Desktop Platform Crypto VC Giant a16z Founders Donate $5M to Trump Super PAC Jump Trading accused of pump-and-dump scheme in DIO token lawsuit Grayscale’s Bid to Launch Multi-Crypto ETF—Why Bitcoin and Ether Liquidity May Seal the Deal Band Protocol Teams Up with Sony’s Soneium Minato to Supercharge Web3 dApps with Oracle Power