Introduction
JB from Cheeky Crypto discusses Cardano’s ADA, including market analysis, on-chain data, and price action.
Market Analysis
The global crypto market cap is down 1.52% in the last 24 hours, at $1.26 trillion. The Fear and Greed Index is at 71, signifying greed. Bitcoin is up 4% in the last hour, down 2% today, and up 21.5% in the last 7 days. Cardano ADA is up 44% in the last hour, down 2.85% today, and up 14% for the week.
On-Chain Data
Cardano’s ADA all-time high is $3.90, and it is currently 99.86% below this level. There were 43,000 active addresses in the last day, with 34,000 receiving addresses and 31,900 sending addresses. There were 62,573 transactions in the last 24 hours, costing $6,650. The block height is 9.45 million. There are 183,000 wallets holding over 10,000 ADA (up 3% in the last 24 hours and 116% in the last 7 days), accumulating wallets holding over 100,000 ADA, and decreasing wallets holding over 1 million ADA.
Liquidations
$73,900 worth of positions were liquidated in the last 24 hours, with 73.47% long positions and 26.53% short positions. Binance had the highest liquidations, mainly long positions.
Total Value Locked (TVL)
Native lockup for Cardano’s ADA has increased over the last year, with a notable increase in the last 7 days.
Price Analysis
On the 1-hour chart, Cardano’s ADA price action suggests the potential for an upward move, targeting around $29.84 to $30.65. On the 1-day chart, the wave four needs to break above $0.307 for a bullish scenario, or it could lead to lower prices. The one-week chart indicates the potential for lower lows, with an expected target between $18.70 and $15.17 for Cardano’s ADA.
JB’s Outlook
JB expects lower lows for many projects in the space, including Cardano’s ADA. He advises caution in trading, setting tight stop losses, and staying safe in the crypto space.
Conclusion
JB encourages viewers to share their thoughts and opinions on the discussed topics.
