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Cardano (ADA) DeFi TVL Jumps 180%, Will ADA Price Break $0.7?Cardano (ADA) is outperforming its peers in the Decentralized Finance (DeFi) ecosystem with a parabolic surge in Total Value Locked (TVL). Cardano TVL by the Numbers Per data to Data from DeFiLlama, Cardano’s TVL went through the roof, climbing from $188.65 million as of October 17 to the $529.42 million it is today. Effectively, this TVL jump accounts for a total growth rate of 180.636% within that period. This is no easy feat considering the enormous work required to attract the right liquidity into the Cardano network in the presence of DeFi heavyweights like Ethereum (ETH) and Solana (SOL). With the latest impressive uptick, Cardano’s overall ranking in the DeFi world has improved, rising to the 12th position at the time of writing. The major contributor to Cardano’s growth is Indigo, a decentralized non-custodial synthetic assets protocol built for the network. Indigo’s TVL comes in at $120.2 million and is closely followed by decentralized exchange Minswap and Liqwid, a decentralized lending protocol with TVLs of $103.77 million and $60.18 million respectively. Since it enabled smart contracts on its network, this is arguably the first time the impact of its massive developmental work on Cardano will be recognized. Among the protocols launched this year, Cardano DJED stablecoin from COTI also commands enormous liquidity with TVL pegged at $26.13 million at the time of writing. Cardano’s recognized DeFi strides come from consistent protocol upgrades by the blockchain’s parent company Input Output Global (IOG). Effectively, the locked ADA in all smart contracts represented on the network has grown from 272.27 million in January to 824.06 million at the moment. Is ADA’s Path Cleared? DeFi growth is a bullish sign in the market that might have a positive impact on price ultimately. At the time of writing, Cardano’s price is pegged at $0.617, down by 2.42% in the past 24 hours. The current bearish outlook, aggravated by the 54% drop in volume to $856,135,342 also underscores the inherent conservative sentiment in the market at the moment. Cardano typically has interesting on-chain metrics that suggest the current gloom may not last for long. Ultimately, a rebound might be plotted when this DeFi data is properly priced in and general market sentiment changes on Bitcoin ETF hype.
by DEXWireNews
1
Cardano What's your plan ?- i just made this charts to compare 2 simple ways. - i always try to keep my maths simple as possible. - How much money you can make when you short. - How much money you can make when you long. - Ada lost -93% from ATH - So if u shorted Cardano, you could have double your invest (X2). ( have to also add and calculate fees while shorting depending on exchanges..) ( around 0.04% every 4 hours for normal users ). - From last Bottom in 2020, Ada made 16000% up to his new ATH in 2021. - So if you bought ADA and keep, you would have made 160X on your investment. - So tell me, what is the most simple and easy choice ? - Short or Long ? - Stay S4fe Happy Tr4Ding !
KRAKEN:ADAUSDLong
by thecryer
4
ADA/USDT Eyeing Bullish Momentum? 👀 🚀Cardano Today Analysis💎 Paradisers, let's examine ADAUSDT as it showcases a compelling market development. Recently breaking above a strong supply zone, it is now poised to retest this level, indicating a high probability of initiating a bullish movement. 💎 Reflecting on #Cardano market journey, it has consistently navigated a descending channel pattern, breaking upwards to signal bullish movements. Presently, it is engaging in a critical retest of the robust supply zone at $0.5676. With the price maintaining momentum above this level, which is now acting as a demand zone, there’s an increased likelihood of #ADA overcoming higher supply thresholds. 💎#ADA traders must stay prepared for various market dynamics. If ADA faces challenges in upholding its bullish momentum and slips below the current demand level of $0.5676, we might witness a shift in market trend. Traders should then consider pivoting their focus towards a bullish recovery from a lower support level at $0.4658. 💎 Crucially, if #ADA dips below this support, it would signal the need for a strategic market reassessment. Such a scenario would indicate potential obstacles in maintaining the bullish trend, necessitating a thoughtful reevaluation and adjustment of trading strategies. 🌴💰
Long
by MyCryptoParadise_Simon
ADA 🐻ish ☁️ - 24-Hr Forecast - Downside Risk;Rebound In 1 Week?A bullish sun ☀️ will shine over the global crypto market in the next 24 hours, with the exception of Cardano and Avalanche which face cloudy, bearish trading conditions. ☁️ Over a one-week horizon, these bearish clouds will dominate, indicating a downside risk for Bitcoin, Ether, and other altcoins. ☁️ Some smaller crypto coins such as Cardano and Binance Coin will, however, profit from a bullish sun. ☀️ Follow us for more crypto weather reports!
by ATTMO
ADA: Pullback in UptrendCardano (ADA) technical analysis: Trade setup : Following a bullish breakout from Ascending Triangle pattern, price resumed its uptrend and broke above $0.46 key level as well. However, price is got very overbought (RSI > 80!) just as it reached that $0.60 resistance. Hence, near-term, we’re likely to see it pause here on some profit taking. If it pulls back near $0.46 support, that could be an attractive swing trade entry area. Trend : Uptrend across all time horizons (Short- Medium- and Long-Term). Momentum is Bullish but inflecting. MACD Line is above MACD Signal Line and RSI is above 55 but momentum may have peaked since MACD Histogram bars are declining, which suggests that momentum is weakening. Support and Resistance : Nearest Support Zone is $0.46 (previous resistance), then $0.40 – $0.42. The nearest Resistance Zone is $0.65.
Long
by altFINS
ADA/USDT upward moment preparing for potential shift? 👀 🚀 ADA 💎 Paradisers, observe closely as ADAUSDT is showing promising signs. It's currently on the verge of breaking a key supply level, suggesting a high likelihood of an upward movement following a successful breakout. 💎 In the past, Cardano has demonstrated a pattern of adhering to a descending trendline, breaking above it to initiate an upward trajectory. Presently, it's making strides to break through a supply level. Once this level is surpassed, there's a considerable chance for a bullish movement. With sustained upward momentum, ADA is aiming to target supply levels at $.4499, and may even ascend to challenge higher supply levels at $.5187, eventually aiming to reach the $.6009 supply level. 💎 For the shrewd Paradisers, timing is of the essence in seizing this opportunity. It's vital to identify the most advantageous entry points during this anticipated rise, and to be cautious of entering at peak prices. Additionally, be prepared for the eventuality of a bullish resurgence from the demand level of $.3342. Nonetheless, a decline below this demand level could indicate potential challenges to the continuation of the bullish trend. 💎 In such a dynamic and evolving market environment, strategic planning and astute decision-making are crucial. Developing a well-rounded trading strategy, which includes prudent money management and a thorough understanding of support and resistance levels, is key to achieving successful trading results. 🌴💰
Long
by MyCryptoParadise_Simon
ADA/USDT 1DAY UPDATE BY CRYPTOSANDERS !!Hello friends, welcome to this ADA/USDT update from Crypto Sanders. Chart Analysis:- ADA bulls woke up this week with an impressive 28% price increase. This spectacular performance obliterated the resistance at 46 cents, and now buyers are looking at much higher levels. The most important resistance on the chart right now is found at 60 cents. Sellers may attempt to stop this rally around 50 cents, but that is unlikely to last, considering market sentiment. ADA manages to maintain this momentum, and then going to 60 cents becomes likely. I have tried to bring the best possible results in this chart. If you like it, hit the like button and share your charts in the comments section. Thank you.
Long
by CryptoSanders9563
Cardano reached yearly high at 0.46 levelHi everyone, Cardano managed to break 0.42 resistance level and almost reached local high at 0.46 set in April 2023. At this point 0.46 level is the main obstacle for continuation of price rise. In case if ADA will manage to break this level then road open to go above 0.5 rpice level but I think that Cardano won't manage to break this level unless Bitcoin goes above 50k. Otherwise it's more likely to see some correction on Cardano. Note that real altseason didn't started yet. Mostly we see that money goes to Bitcoin hence Bitcoin dominance is increasing. It's important to follow Bitcoin price chart and Bitcoin dominance as well to understand when real altseason starts. I think that 0.46 is the highest price for this year and that's ok. Real bull market starts next year and Cardano will definitely follow it. Please, do not forget to boost this idea & share it with your friends; thanks.
by Real_CryptoRoy
3
ADA/USDT Facing in the key level area. It required break!💎 ADA has indeed garnered significant attention in the market with its impeccable rounding bottom movement. Presently, ADA encounters a formidable supply area and encounters difficulty in breaking through. Observing the candlesticks for any bearish rejections, if ADA fails to breach the supply area in the near future, it could validate a rejection, signaling a potential downward movement toward the demand area at $0.312. This probability could initiate a robust new momentum, gearing up for another attempt to break the resilient supply zone. 💎 On the flip side, if ADA decisively breaks the supply area with a confirmed candle closure above, the path could be paved for ADA to sustain its upward trajectory, making it easier to attain our target supply area in the coming days. 💎 The unfavorable scenario unfolds if ADA, during the retesting phase at the $0.312 demand area, fails to maintain its position and breaches the demand zone. In such a scenario, ADA could revert to a bearish trajectory, potentially retracing to the robust support area.
by MyCryptoParadise_Nathan
7
ADAUSDT #2 ( Clear road map to 84% benefit ! ) Hello dear traders. Good days . ADAUSDT reach to daily Gann Square Fan trend line and need to get support from broken resistance of trend line and Gann square Arc resistance . Buy zone area is price resistance which is broken and we expect to get support from it which consider as small correction around 0.291 $ . Road map plotted with help of daily Gann square & Gann box . Good luck & Safe trade . Thanks for your support and comments.
Long
by SHAlavi
5
ADA: Overbought at ResistanceTrade setup : Following a bullish breakout from Ascending Triangle pattern, price resumed its uptrend and broke above $0.46 resistance as well. However, price is now very overbought (RSI > 80!) just as it reached that $0.60 resistance. Hence, near-term, we’re likely to see it pause here on some profit taking. Trend : Uptrend across all time horizons (Short- Medium- and Long-Term). Momentum is Bullish but extremely overbought. ( MACD Line is above MACD Signal Line). RSI is bullish (> 55) but extremely overbought (> 80) which could imply that price could briefly pause or pull back if it reaches Resistance. Support and Resistance : Nearest Support Zone is $0.40 - $0.42 (previous resistance), then $0.30. The nearest Resistance Zone is $0.46, which it broke, then $0.60.
Long
by altFINS