Sunday, June 13, 2021
JAY TALKS CRYPTO
No Result
View All Result
  • Home
  • Bitcoin
    • Bitcoin Live
  • Ethereum
  • Cryptocurrency
    • Cryptocurrency live
  • Altcoins
    • Altcoins Daily
  • Cardano
    • Cardano Price Prediction
  • XLM Live
    • XLM
  • XRP
  • Litecoins
  • Dogecoin
  • More
    • Coingecko
    • Coin Bureau
  • Videos
JAY TALKS CRYPTO
No Result
View All Result
Home Cardano Price Prediction

Cardano price crashes as long-term holders start losing faith in project

admin by admin
April 19, 2021
in Cardano Price Prediction
0
Rejection at 100-HMA calls for a test of the $1 mark
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter


  • Cardano price had a massive 30% sell-off in the past four days.
  • The digital asset will most likely struggle to recover as long-term holders are selling.
  • ADA must hold above a crucial support level to avoid another fall.

Cardano, like the rest of the market, had a major sell-off and lost 30% of its value in the past week. According to on-chain metrics, long-time holders are exiting and taking profits. 

Cardano price on the verge of another significant fall

On the 4-hour chart, Cardano failed to stay above the 100 SMA and could quickly fall to the previous low of $1.07. One of the most significant bearish indicators for Cardano has been long-term holders exiting the network.

ada price

ADA/USD 4-hour chart

The number of investors holding ADA for one year or longer greatly diminished in the past year from 53.8% in April 2020 to a low of 12% currently. This metric indicates that long-term holders are taking profits and perhaps do not believe that Cardano price can continue climbing. 

In the same time period, the number of traders  holding ADA for no longer than one month exploded, especially since the beginning of 2021, which shows that Cardano is far more speculative now.

ada price

ADA Long-Term Holders

Fortunately, ADA bulls count with a lot of support on the way down. According to the In/Out of the Money Around Price (IOMAP) chart, the area between $1.24 and $1.27 where 98,000 addresses purchased 2.24 billion ADA represents a robust support point. 

ada price

ADA IOMAP chart

Additionally, the entire area between $1.27 and $1.12 is a significant support range. On the other hand, the most significant resistance area is located between $1.42 and $1.45. If Cardano can reconquer the 100 SMA, the digital asset could quickly jump toward the 50 SMA at $1.35 

Above this point, the next bullish price target would be $1.45, which is the strongest resistance point according to the IOMAP chart.



Source link

Related articles

What Next for ADA Amid the Crypto Sell-Off?

What Next for ADA Amid the Crypto Sell-Off?

June 12, 2021
Cryptocurrency Buy Signals For Cardano (ADA), Bitcoin (BTC), And Polkadot (DOT)

Be Very Careful With Any Bullish ADA Moves Here

June 12, 2021
Tags: CardanocrashesfaithholderslongtermlosingPriceProjectstart
Share76Tweet47

Related Posts

What Next for ADA Amid the Crypto Sell-Off?

What Next for ADA Amid the Crypto Sell-Off?

by admin
June 12, 2021
0

The Cardano price has retreated after having a remarkable rally last week. ADA has dropped to $2.1697 amid the...

Cryptocurrency Buy Signals For Cardano (ADA), Bitcoin (BTC), And Polkadot (DOT)

Be Very Careful With Any Bullish ADA Moves Here

by admin
June 12, 2021
0

Cardano (ADAUSD) Above: Cardan (ADAUSD) Chart I am writing this article at 1515 EST and at the present time,...

Cardano Price Prediction for June 2021

Cardano Price Prediction for June 2021

by admin
June 12, 2021
0

Institutional investors are rushing to board the ADA boat with smart contracts coming soon Cardano (ADA) showed remarkable resilience...

Which cryptocurrencies can repeat the sharp rise of Bitcoin (BTC) and XRP?

Bitcoin, SafeMoon & Ripple – American Wrap 10 June

by admin
June 11, 2021
0

Bitcoin price closed yesterday up 11.98%, the largest daily return since February 8 when it broke out from a...

To Hodl or not to Hodl: TRON Price Forecast

To Hodl or not to Hodl: TRON Price Forecast

by admin
June 11, 2021
0

TRON’s platform is powered by the TRX cryptocurrency, investing in which allows crypto users to be part of the...

Load More
  • Trending
  • Comments
  • Latest
2021 Coinbase Debit Card Review • Pros, Cons & More • Benzinga

2021 Coinbase Debit Card Review • Pros, Cons & More • Benzinga

April 14, 2021
MASSIVE NEWS Hokkaido inu Exchange news+ More! 1000x gem! If you missed shiba inu dont miss this!

MASSIVE NEWS Hokkaido inu Exchange news+ More! 1000x gem! If you missed shiba inu dont miss this!

May 12, 2021
Kishu Inu Mega pump! We called it first! Kishu inu Pump update+ Discord updates!

Kishu Inu Mega pump! We called it first! Kishu inu Pump update+ Discord updates!

May 15, 2021
Shiba Inu coin 1000x Exchange+massive news+ Shib Price Prediction!

Shiba Inu coin 1000x Exchange+massive news+ Shib Price Prediction!

May 11, 2021
Best Cryptocurrencies Under 1 Cent • Top 5 • Benzinga

Best Cryptocurrencies Under 1 Cent • Top 5 • Benzinga

0
Want to be rich? Bitcoin’s limited supply cap means you only need 0.01 BTC

Want to be rich? Bitcoin’s limited supply cap means you only need 0.01 BTC

0
Risky business

Risky business

0
Cardano Price Analysis: 07 March

Cardano Price Analysis: 07 March

0
Best Cryptocurrencies Under 1 Cent • Top 5 • Benzinga

Best Cryptocurrencies Under 1 Cent • Top 5 • Benzinga

June 13, 2021
Ontario Lottery and Gaming Corporation – EVENING LOTTERY WINNING NUMBERS

Ontario Lottery and Gaming Corporation - EVENING LOTTERY WINNING NUMBERS

June 13, 2021
$288K BTC price ‘still in play’ says PlanB as Bloomberg champions Bitcoin halving

$288K BTC price ‘still in play’ says PlanB as Bloomberg champions Bitcoin halving

June 13, 2021
How Bitcoin Has Fueled Ransomware Attacks

How Bitcoin Has Fueled Ransomware Attacks

June 13, 2021

Recent News

Best Cryptocurrencies Under 1 Cent • Top 5 • Benzinga

Best Cryptocurrencies Under 1 Cent • Top 5 • Benzinga

June 13, 2021
Ontario Lottery and Gaming Corporation – EVENING LOTTERY WINNING NUMBERS

Ontario Lottery and Gaming Corporation - EVENING LOTTERY WINNING NUMBERS

June 13, 2021

Categories

  • Altcoins
  • Altcoins Daily
  • Bitcoin
  • Bitcoin Live
  • Cardano
  • Cardano Price Prediction
  • Coin Bureau
  • Coingecko
  • Cryptocurrency
  • Cryptocurrency live
  • Dogecoin
  • Ethereum
  • Litecoins
  • Videos
  • XLM
  • XLM Live
  • XRP

Follow Us

Calculator

 
  • Privacy & Policy
  • About Us
  • Contact Us

© 2021 Jay Talks Crypto  

No Result
View All Result
  • Home
  • Bitcoin
    • Bitcoin Live
  • Ethereum
  • Cryptocurrency
    • Cryptocurrency live
  • Altcoins
    • Altcoins Daily
  • Cardano
    • Cardano Price Prediction
  • XLM Live
    • XLM
  • XRP
  • Litecoins
  • Dogecoin
  • More
    • Coingecko
    • Coin Bureau
  • Videos

© 2021 Jay Talks Crypto