• Bitcoin
  • NFT
  • Binance
  • ETH
  • DeFi
  • Metaverse
  • IDO
  • Coinbase
  • Solana
  • ETF
  • FTX
  • GameFi
Newsletter
  • Home
  • Crypto News
  • Market
  • Learn
No Result
View All Result
  • Home
  • Crypto News
  • Market
  • Learn
No Result
View All Result
CoinLive
No Result
View All Result
Home Market

Cardano ADA drops 18% causing concern due to weak activity

189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

[ad_1]

The price of Cardano (ADA) has dropped around 18% over the past seven days, in line with the broader market situation after a period of consistent growth. However, besides price, operations on the Cardano network are also under considerable pressure.

Related articles

OpenAI to Launch AI-Powered Browser Amid Competition

July 10, 2025

Amazon Prime Day Sales Report a 41% Decline

July 10, 2025

The overall decline surrounding the project has raised concerns about the short-term performance of this altcoin. According to on-chain analysis, those concerns may be well-founded.

Cardano Hits Big Hurdles

On December 8, Cardano’s price climbed to a yearly high of $1.22. But to date, the value of this digital currency has decreased to 0.88 USD due to significant sales. While ADA holders can expect a near-term recovery, In/Out of Money Around Price (IOMAP) suggests it may not be easy.

IOMAP is an indicator that identifies on-chain support and resistance. To do this, the indicator looks at addresses that currently have unrealized profits compared to addresses that are losing money. Typically, the higher the volume at a price, the stronger the support or resistance.

According to IntoTheBlock, the main resistance for ADA is located around the $0.92 level. In this region, 58,470 Cardano addresses have accumulated 951.02 million Tokens, higher than the amount of Tokens in the coin fluctuating between 0.74 USD and 0.88 USD.

Cardano price faces resistance
Cardano In/Out of Money Around Price. Source: IntoTheBlock

If buying pressure continues to be weak, ADA price may have difficulty breaking above current levels. Instead, the Token may undergo a prolonged correction.

Data from Santiment supports this view, pointing to a significant decrease in Cardano network activity. On December 16, the number of active addresses in 24 hours exceeded 51K, but at the time of writing, this number had decreased to 32,700.

An active address is defined as a wallet that participates in a successful transaction — either as a sender or receiver — within a specified period of time. This measure is a strong indicator of daily user activity on the blockchain.

Cardano network activity decreased
Cardano Active Addresses. Source: Santiment

An increase in active addresses signifies increased user participation, which is often beneficial for price action. Therefore, the ongoing decline in this gauge indicates bearish sentiment around ADA.

ADA Price Forecast: A Prolonged Correction Is Unavoidable

From a technical perspective, the Exponential Moving Average (EMA) suggests that Cardano’s price could continue to decline. EMA is an indicator that measures the trend surrounding a Cryptocurrency.

On the daily chart, ADA price has dropped below the 20 EMA (blue). A drop below the EMA signals a bearish outlook. Additionally, the value of the Token is located roughly in the same position as the 50 EMA (yellow).

This position shows that Cardano is close to losing support at $0.88. If this continues, ADA price could drop to $0.77. In an extremely pessimistic scenario, the value of the altcoin could drop to $0.55.

Cardano price analysis
Cardano Daily Analysis. Source: TradingView

However, if Cardano network activity increases, this trend could change. In that case, the value of the Cryptocurrency could jump to 1.33 USD.

General Bitcoin News

[ad_2]

Share76Tweet47

Related Posts

Top 3 prominent AI cryptocurrencies in the week of January 4, 2025

by Kishu Inu
January 25, 2025
0

Hive AI (BUZZ), BOTIFY and Freya (FREYA) are the top AI coins this week. BUZZ is up 58% in the...

Top 3 cryptocurrencies AI stand out in January 4, 2025

by Kishu Inu
January 25, 2025
0

Hive AI (Buzz), Botify and Freya (Freya) are the top AI currencies this week. Buzz has increased by 58% in...

The crook attacks the former Brazilian TT account to promote the cryptocurrency

by Kishu Inu
January 24, 2025
0

The hacker has appropriated the social network of Jair Bolsonaro, former Brazilian president, to promote a fake meme coin. As...

The crook attacks the former Brazilian TT account to promote cryptocurrencies

by Kishu Inu
January 24, 2025
0

The hacker has appropriated the social network of Jair Bolsonaro, former Brazilian president, to promote a fake meme coin. As...

Solana price increased by 21%, surpassing Sony in market capitalization

by Kishu Inu
January 24, 2025
0

Solana price (SOL) has increased by 8% in the past 24 hours and 21% in the past week, with market...

Load More

Tags

analysis announces Bank billion Binance Bitcoin Blockchain BTC CEO Coin Coinbase Crypto cryptocurrencies Cryptocurrency DeFi ETH Ethereum Exchange Finance FTX fund game General News Information Investment Latest Launch launches market Metaverse million Network News NFT platform Price project Protocol Review SEC Solana Token trading users wallet

Recent Posts

  • OpenAI to Launch AI-Powered Browser Amid Competition
  • Amazon Prime Day Sales Report a 41% Decline
  • GMX Exploit Reveals Design Flaw, $42M Lost
  • Pumpfun Pre-Sale Removed from Gate.io
  • US Tariffs on Iraq and Libya Impact Crypto Markets: Bitcoin and Ethereum Decline
  • GMX Platform Hacked for $42M, Offers 10% Bounty
  • 5 Bullish Meme Coins Backed by Analysts, with MoonBull Ranked as the Best Upcoming Crypto in 2025
  • Uniswap’s Dormant Tokens Surge 21% Impacting Market
  • About
  • FAQ
  • Contact Us
  • IGO
  • Altcoin
  • Terra
  • Launchpad
  • P2E
  • META
  • AXS
Email us: [email protected]

© 2021 CoinLive - Crypto News 24/7

No Result
View All Result
  • Home
  • Crypto News
  • Market Analysis
  • Learn

© 2021 CoinLive - Crypto News 24/7