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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
ADA knocking at 80 cents? First breakout target reached already!Cardano has made its move once the 40 cent horizontal level was broken. If you look closer into less known indicators, the September-October period already showed signs of a reversal and breakout: the TD 13 on 10-day (while holding the 24 cent floor) and the close above the 2:1 descending Gann angle. Now... we are inside the cloud, stretching the Bollinger and already hit the 0.702 OTE zone from 1.02 which I consider to be another important horizontal level. Might even go as far as to call it ADA's bull/bear line. The future? Hold 52 on correction and we should see 74 and 86 cent as well. Perhaps we could reach these levels without a correction. Personally I'd go with 1% portfolio for the trade right now and keep another 1% for the 55~52 zone to re-enter. Targets 0.74 and 0.86 as mentioned. Stop loss 0.49 if the psychological half a dollar gets rekt.
by ThinkLikeaWhaleTLAW
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 continue it's way to 1USDCRYPTOCAP:ADA pumping today. 1st and 2nd target hit, expecting 1USD soon Weekly Analysis update💎 Facts First, Conclusion at the end ----- FACTS: 1. Price Still above Overbought red line (good) 2. Blue Bullish Wave present (we ride these waves) 3. Strong Bullish Strength (see upwards triangles) 4. Money Flow very close to flip bullish (extremely important) 5. No bearish signals present ---- CONCLUSIONS A) Simple, I keep holding and riding the wave, no bearish signals present, so no taking profits. B) 1USD is the next step as long as we don't see bearish signals appear, or price closes below red line. One Signal at a time. ----- Are you holding CRYPTOCAP:ADA ?
Long
by RiderAlgo
🤖🚀 AI Elevates My Trading Game - The Future is Here! 💡🌐📈 Cardano's New Breakout is a Big one! Cardano has proven to be a lucrative choice in our portfolio, breaking past its main resistance to find support at $0.4237. This isn't just a random spike; it's a strategic move backed by detailed analysis. 🤖 The Pro's Edge: AI Amplifies my personal trading Efficiency by 15% Even as a seasoned trader, the addition of AI to my trading toolbox has been transformative. Elevating my efficiency by a remarkable 15%, this tool stands out as a market leader, opening up a world of possibilities in trading strategies. Imagine what it can do for beginners! 🔜 Future of AI in Trading: More Than Just Analysis We're on the cusp of a new era where AI transcends analysis to execute trades, automate connections to exchanges, and even respond to voice commands. The integration of advanced analytics, social metrics, and machine learning is set to revolutionize our interaction with trading platforms. 💡 Revolutionizing Trading with AI AI's evolution is poised to upend traditional trading strategies, leveraging cutting-edge technology. We're nearing the advent of the first AI-driven trading platform, offering custom learning solutions for all trader levels. 🎓 AI: A Boom for Beginners and Pros Alike AI's transformative impact is not limited to novices; it's a powerful tool for experienced traders too. For beginners, it reduces risks and enhances efficiency, making trading more accessible and enjoyable. For pros like me, it's a significant efficiency booster. 🎤 Voice Command: My Go-To AI Feature The voice command functionality of this AI tool is a standout. Whether I’m navigating through traffic or enjoying downtime, I can effortlessly get market updates or request analyses on cryptocurrencies like Cardano and Bitcoin, all hands-free. 🌟🛡️ Future of Risk Management: AI's Pivotal Role Looking ahead, AI is set to revolutionize risk management in trading. By integrating AI, we can anticipate a future where trading is less about emotional reactions and more about strategic, data-driven decisions. This futuristic approach promises a trading environment where risks are meticulously analyzed and managed, enhancing our control over investments. 📊🤝 AI: Assisting, Not Replacing in the Trading World Remember, AI is a powerful assistant, not a replacement. Our journey in trading begins with mastering Technical Analysis and crafting our own strategies. AI's role is to supplement and refine our skills, not to overshadow the human insight and judgment that are essential in trading. It's about striking a balance, combining the precision of AI with the depth of human expertise. To sum up, the role of AI in trading isn't just supplementary; it's revolutionary. It's becoming an integral part of our trading experience, offering personalized assistance and advanced analytical capabilities. I'm excited to be at the forefront of this innovation, aiding traders globally in enhancing their trading outcomes with AI. 🤝🚀Time for the Trading community (with #Tradingview being the core of this) to use AI for the benefit of all traders within collaboration and ethical approach. Looking forward into a brighter future with AI in the mix. One Love, The FXPROFESSOR 💙
Long
by FX_Professor
2
Cardano(ADA): Way Too Overbought - Time To Short?The current 4-hour ADAUSDT chart exhibits a notable retreat from recent highs, suggesting a cooling of bullish momentum. The price of ADA has formed a noticeable peak, leading to a substantial red candle that breaches the immediate support level. This shift implies a potential for continued bearish movement. We are to monitor the Bollinger Bands closely; a sustained close below the middle band could signal further declines, potentially targeting the next significant support at $0.3827. The RSI shows no immediate signs of oversold conditions, which means we still have some room to fall
Short
by SwallowPremium
5