{"id":602696,"date":"2024-04-11T15:00:17","date_gmt":"2024-04-11T15:00:17","guid":{"rendered":"https:\/\/uniquehot.com\/?p=602696"},"modified":"2024-04-11T13:39:07","modified_gmt":"2024-04-11T13:39:07","slug":"cardano-crashing-to-0-4","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/cardano\/cardano-crashing-to-0-4\/","title":{"rendered":"Cardano At Risk Of Crashing To $0.4 As Important Metrics Turn Bearish"},"content":{"rendered":"<p><a href=\"https:\/\/bitcoinist.com\/cardano-us-blockchain-voting\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Cardano (ADA)<\/span><\/a><span style=\"font-weight: 400\"> risks a significant price decline as several on-chain metrics paint a bearish sentiment for the crypto token. This coincides with a recent technical analysis by a crypto analyst, who <\/span><a href=\"https:\/\/uniquehot.com\/news\/cardano\/ada-price-0-34-cardano-founder\/#:~:text=Cardano%20Founder%20Is%20Bullish%20On%20ADA&amp;text=Hoskinson's%20statement%20came%20in%20response,were%20a%20%E2%80%9Cfair%20vote.%E2%80%9D\"><span style=\"font-weight: 400\">predicted<\/span><\/a><span style=\"font-weight: 400\"> that ADA could drop to as low as $0.4.<\/span><\/p>\n<h2>ADA Sees Decline In Trading Volume<\/h2>\n<p><a href=\"https:\/\/messari.io\/project\/cardano\/charts\/market\/volume\" rel=\"nofollow\"><span style=\"font-weight: 400\">Data<\/span><\/a><span style=\"font-weight: 400\"> from the on-chain analytics platform Messari shows a decline in <\/span><a href=\"https:\/\/bitcoinist.com\/cardano-starts-2024-with-a-bang\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">ADA\u2019s trading volume<\/span><\/a><span style=\"font-weight: 400\"> from its recent peak. The crypto token recorded a daily trading volume of $1.53 billion on March 14 but has been on a steady decline since then, recording a daily trading volume of $445.83 million on April 10.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/bitcoin\/drivers-bitcoin-price-crash\/\">Here Are The Drivers Behind The Bitcoin Price Crash To $68,000<\/a><\/div>\n<p><span style=\"font-weight: 400\">Furthermore, <\/span><a href=\"https:\/\/app.intotheblock.com\/coin\/ADA\" rel=\"nofollow\"><span style=\"font-weight: 400\">data<\/span><\/a><span style=\"font-weight: 400\"> from IntoTheBlock shows three other on-chain metrics signaling a bearish sentiment for the crypto token. The first is the \u2018Net Network Growth,\u2019 which has experienced a 0.17% increase in the past week. This metric measures the total number of ADA addresses, meaning more users have left the ecosystem than new ones have come this last week.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The second metric is the \u2018In the Money,\u2019 which has seen a 0.20% decline in the last seven days. This metric measures the number of ADA holders that are currently in profit at the crypto token\u2019s price level. Meanwhile, large transactions on the <\/span><a href=\"https:\/\/bitcoinist.com\/cardano-dominates-development\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Cardano network<\/span><\/a><span style=\"font-weight: 400\"> have also dropped lately, with a 2.60 decline. These large transactions refer to transactions that are over $100,000, suggesting that <\/span><a href=\"https:\/\/uniquehot.com\/news\/cardano\/cardano-price-below-0-7\/#:~:text=Cardano%20Whales%20Responsible%20For%20Price%20Decline&amp;text=That%20period%20was%20when%20Cardano,Low%2C%20Can%20Bitcoin%20Reach%20%2475%2C000%3F\"><span style=\"font-weight: 400\">ADA whales<\/span><\/a><span style=\"font-weight: 400\"> are cooling off on investing in the crypto token.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">These bearish on-chain metrics further strengthen crypto analyst Alan Santana\u2019s analysis, in which he mentioned that ADA could drop between $0.4444 and $0.3450. Back then, he noted that ADA still had a bearish outlook from a technical analysis perspective, and this outlook would extend until ADA found a strong support level on the charts.\u00a0<\/span><\/p>\n<h2>ADA\u2019s Derivatives Market Also Shows Bearish Outlook<\/h2>\n<p><a href=\"https:\/\/www.coinglass.com\/currencies\/ADA\" rel=\"nofollow\"><span style=\"font-weight: 400\">Data<\/span><\/a><span style=\"font-weight: 400\"> from Coinglass shows that the bears are also firmly in control of the ADA ecosystem. In the last 24 hours, $632,720 has been wiped out from ADA\u2019s <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-derivatives-market-volumes-show-bullish-trend-after-2022-downturn\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">derivatives market<\/span><\/a><span style=\"font-weight: 400\">, with long positions ($502,170) accounting for most of these liquidations.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/analysis\/xrp\/price-surge-xrp-price-20\/\">Crypto Experts Predict Massive Price Surge For XRP Price, Is $20 Possible?<\/a><\/div>\n<p><span style=\"font-weight: 400\">Meanwhile, trading volume in ADA\u2019s derivatives market has dropped by over 11%, suggesting a declining interest in the <\/span><a href=\"https:\/\/bitcoinist.com\/ada-price-set-to-explode\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">ADA token<\/span><\/a><span style=\"font-weight: 400\"> among crypto investors. Furthermore, the <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-open-interest-all-time-high-btc-72000\/#:~:text=The%20%E2%80%9COpen%20Interest%E2%80%9D%20is%20an,increases%20when%20this%20trend%20occurs.\" rel=\"nofollow\"><span style=\"font-weight: 400\">Options trading volume<\/span><\/a><span style=\"font-weight: 400\"> paints a more bearish picture, dropping by 92% in the last 24 hours.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">At the time of writing, ADA is trading at around $0.59, up over 1% in the last 24 hours according to <\/span><a href=\"https:\/\/coinmarketcap.com\/currencies\/cardano\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">data<\/span><\/a><span style=\"font-weight: 400\"> from CoinMarketCap.\u00a0<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/6kNP4wqM\/\" alt=\"Cardano price chart from Tradingview.com\" width=\"3286\" height=\"1530\"><\/p>\n<pre style=\"text-align: center\">ADA price at $0.58 | Source: <a href=\"http:\/\/Tradingview.com\" rel=\"nofollow\">ADAUSDT on Tradingview.com<\/a><\/pre>\n<div class=\"disclaimer-shortcode\">Featured image from The Independent, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Cardano (ADA) risks a significant price decline as several on-chain metrics paint a bearish sentiment for the crypto token. This coincides with a recent technical analysis by a crypto analyst, who predicted that ADA could drop to as low as $0.4. ADA Sees Decline In Trading Volume Data from the on-chain analytics platform Messari shows a decline in ADA\u2019s trading volume from its recent peak. The crypto token recorded a daily trading volume of $1.53 billion on March 14 but has been on a steady decline since then, recording a daily trading volume of $445.83 million on April 10.\u00a0 Related Reading: Here Are The Drivers Behind The Bitcoin Price Crash To $68,000 Furthermore, data from IntoTheBlock shows three other on-chain metrics signaling a bearish sentiment for the crypto token. The first is the \u2018Net Network Growth,\u2019 which has experienced a 0.17% increase in the past week. This metric measures the total number of ADA addresses, meaning more users have left the ecosystem than new ones have come this last week.\u00a0 The second metric is the \u2018In the Money,\u2019 which has seen a 0.20% decline in the last seven days. This metric measures the number of ADA holders that are currently in profit at the crypto token\u2019s price level. Meanwhile, large transactions on the Cardano network have also dropped lately, with a 2.60 decline. These large transactions refer to transactions that are over $100,000, suggesting that ADA whales are cooling off on investing in the crypto token.\u00a0 These bearish on-chain metrics further strengthen crypto analyst Alan Santana\u2019s analysis, in which he mentioned that ADA could drop between $0.4444 and $0.3450. Back then, he noted that ADA still had a bearish outlook from a technical analysis perspective, and this outlook would extend until ADA found a strong support level on the charts.\u00a0 ADA\u2019s Derivatives Market Also Shows Bearish Outlook Data from Coinglass shows that the bears are also firmly in control of the ADA ecosystem. In the last 24 hours, $632,720 has been wiped out from ADA\u2019s derivatives market, with long positions ($502,170) accounting for most of these liquidations.\u00a0 Related Reading: Crypto Experts Predict Massive Price Surge For XRP Price, Is $20 Possible? Meanwhile, trading volume in ADA\u2019s derivatives market has dropped by over 11%, suggesting a declining interest in the ADA token among crypto investors. Furthermore, the Options trading volume paints a more bearish picture, dropping by 92% in the last 24 hours.\u00a0\u00a0 At the time of writing, ADA is trading at around $0.59, up over 1% in the last 24 hours according to data from CoinMarketCap.\u00a0 ADA price at $0.58 | Source: ADAUSDT on Tradingview.com Featured image from The Independent, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":602719,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16896],"tags":[12333,89347,84005,14643,79508,12332,89230,12329],"class_list":["post-602696","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cardano","tag-ada","tag-ada-news","tag-ada-price","tag-adausd","tag-adausdt","tag-cardano","tag-cardano-news","tag-cardano-price"],"acf":[],"yoast_head":"\n<title>Cardano At Risk Of Crashing To $0.4 As Important Metrics Turn Bearish<\/title>\n<meta name=\"description\" content=\"Cardano (ADA) risks a significant price decline as several on-chain metrics paint a bearish sentiment for the crypto token.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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