This week, almost all Cardano [ADA] transactions ended up with participants realizing losses, AMBCrypto confirmed. Before this conclusion
This metric measures the USD value of transactions in gains or otherwise within a specific period. From our analysis, the last time ADA made participants a good amount of money was on 22nd April. At that time, $19.78 million worth of the token did not have to be sold at a loss.Five days ago, Cardano’s price was $0.52. At press time, that value had decreased to $0.46, indicating that it wasHowever, short-term holders are not the only ones affected by ADA’s movement.
If this is the case, more accumulation might take place, and this might leave Cardano with a potential upside. On the other hand, if a part of the holders decide to forfeit what was left, ADA’s price might fall to $0.44.But is this a good time to consider buying ADA? Well, AMBCrypto’s analysis of the price-DAA divergence gives an idea of that. For the unfamiliar, DAA is an acronym for Daily Active Addresses. It shows the daily level of user activity on a blockchain.
One thing we noticed was that Cardano’s DAA jumped within the last few days ADA’s price decreased. Therefore, one can conclude that a solidConcerning the price, ADA might drop below the $0.45 psychological support in the short term. Should this be the case, market participants might need to find other entry spots between $0.40 and $0.44.Despite the potential drawdown, Cardano’s rebound might still be possible in the mid-term. But that would depend on altcoin’s performance.
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