![Cardano’s [ADA] price may be struggling, but will THIS help?](https://i.headtopics.com/images/2024/4/1/cryptoamb/cardano-s-ada-price-may-be-struggling-but-will-thi-cardano-s-ada-price-may-be-struggling-but-will-thi-03BA5F0BCF49EEA99A50DD6761F395BD.webp)
Cardano was leading the race to bag the best L1 network award in the upcoming and highly anticipated Blockchain Life Forum in Dubai.
was leading the race to bag the best layer-1 network award in the upcoming and highly anticipated Blockchain Life Forum in Dubai.
The smart contracts network was sitting at the top, with 2,015 votes cast in its favor, AMBCrypto discovered this via the event’s officialThe public vote would continue for ten more days. After this duration, the chain with the most votes would be declared the winner.ADA has been one of the laggards in the crypto market in recent weeks.The percentage of ADA’s total supply in profit has plummeted from 82% to 76% over the last two weeks, as per AMBCrypto’s analysis of Santiment’s data.
The Relative Strength Index was hovering below the neutral 50 line. Previous breaches of this level have been unsuccessful. A move past 60 could give bullish traders more confidence. The On Balance Volume displayed a negative divergence with the price action, implying that the upward momentum might be lost soon.
The Moving Average Convergence Divergence risked falling below the signal line in forthcoming trading sessions, causing ADA to plummet lower.Aniket is a full-time journalist at AMB Crypto. With experience in news publishing and content management, he is now increasingly tangled up in the web of cryptocurrencies and blockchains. His focus lies on the intersection between cryptos and traditional finance. He prefers DC over Marvel, cats over dogs and Hyderabadi Biryani over Kolkata Biryani.
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