Altcoins News
By Maheen Hernandez
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Cardano [ADA] has recently shown signs of strength, bouncing back from a period of decline and reigniting hopes for a potential rally.
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The breakout itself came with conviction. In less than 24 hours, over $880,000 worth of ADA short positions were liquidated, helping fuel the surge.
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A closer look at on-chain activity reveals a mix of signals, though some are encouraging. While network usage has dropped slightly, especially over the recent weekend, whale…
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Notably, the accumulation trend didn’t stop there. In the past few days, even larger holders — those owning between 100 million and 1 billion ADA — have also increased their…
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However, accumulation hasn’t been uniform across all investor types. While retail investors have been gradually increasing their ADA holdings since February, some other wallet…
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Meanwhile, some short-term concerns remain around network activity. According to data from Santiment, Cardano's daily active addresses and transaction volumes dropped noticeably…
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Token velocity — a measure of how frequently ADA is being transacted — has also declined recently.
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On the technical side, ADA’s 1-day chart supports a bullish outlook. After falling below the $0.
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The 20- and 50-period moving averages are sloping upward, confirming the presence of a short-term uptrend. The next key resistance lies at $0.
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One of the most promising technical indicators right now is the On-Balance Volume (OBV). The rising OBV trend suggests that buying pressure is not only sustained but growing.
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In summary, Cardano may be flying under the radar at the moment, but the signals are increasingly aligning in its favor.
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