Cardano steet op der Dev Aktivitéit virun; kann ADA den Hype liewen

• ADA’s price action and a few metrics look positive 
• However, market indicators were against a price hike

Cardano's [ADA] development activity again helped the altcoin step into the limelight as it outperformed Polkadot [PUNKT]. Recall that DOT has been dominating the market in terms of development activity for quite some time.

Apart from Cardano, Polkadot, and Kusama huet et zu den Top dräi op der Lëscht.

Blockchain Entwécklungsaktivitéit ass ee Wee fir Wuesstum a Potenzial ze moossen.

Déi Top 6 Ökosystemer mat der meeschte Aktivitéit an de leschten 30 Deeg:

1.$ADA @Cardano
2.$DOT @Polka Punkt
3.$KSM @kusamanetwork
4.$ATOM @kosmos
5. $MANA @dezentral
6.$ETH @ethereum pic.twitter.com/5Jhxk6o7bb

— Passiv Akommes Prinzessin 👑 (@BrianneFrey) Dezember 26, 2022

Not only in terms of development activity, ADA also managed to register an uptick on the price front, as its price increased by more than 2% in the last seven days. As per CoinMarketCap, at press time, ADA was Ouvertureszäiten bei $ 0.2637 mat enger Maartkapitaliséierung vu iwwer $ 9 Milliarde.

Blénkt Är ADA Holdings gréng? Kuckt de Profit Calculator

Will the year end well?

While ADA’s price and development activity went up, several other interesting movements were noted on Cardano’s on-chain metrics. These metrics gave a fair idea about the direction in which ADA was headed.

Zum Beispill, ADA’s Market Value to Realized Value (MVRV) Ratio went up over the last week. This increases the chances of a continued price surge. Furthermore, ADA managed to gain interest from the derivatives market as its Binance funding rate also increased.

Moreover, ADA’s social dominance also registered a spike ast week, establishing its popularity in the crypto industry. However, Kardan’s velocity decreased over the last few days, which might be troublesome for the network.

Quell: Santiment

Weiderliesen Cardano's [ADA] Präisprognose 2023-24

The indicators say…

Iwwerraschend ADA’s market indicators painted a bearish picture for the coin. The Exponential Moving Average (EMA) Ribbon revealed sellers’ advantage in the market as the 20-day EMA was resting below the 55-day EMA.

Cardano’s On Balance Volume (OBV) and Relative Strength Index (RSI) were both down as well. This could limit the chances of a northbound breakout in the short term. Nonetheless, the Chaikin Money Flow (CMF) registered an uptick, which provided the much needed hope to the investors. 

Quell: TradingView