Cardano noted a lackluster performance on-chain in Q3 2023 with a decline in active addresses and transaction count
The one-day chart of ADA showed that the $0.3 level was a vital resistance level since June but has been flipped to support.Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.The move above $0.3 was a sign that further gains were likely, with the next major resistance zone near $0.4.on-chain in Q3 2023. A decline in active addresses and transaction count meant the network revenue decreased by 30%.
The spot CVD also jumped higher in November to signal increased demand for ADA in the market. Therefore, the lower timeframe bias was bullish and a move toward $0.38 was feasible.Akashnath is a Chemical Engineering graduate deeply fascinated by Technical Analysis and the crypto markets and enjoys studying price movements and trying to find patterns.Altcoin
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