Join JB from Cheeky Crypto as we delve into the intricacies of Cardano’s ADA, exploring market trends, price movements, and fundamental indicators. Gain insights into the current market sentiment, on-chain data, and technical analysis, while understanding the inherent risks and uncertainties of the cryptocurrency market.
Market Overview: A Bullish Sentiment
The global crypto market cap stands at $1.13 trillion, with a Fear and Greed Index of 53, indicating a bullish sentiment. Bitcoin is trading at $29,800, up 11.03% in the last 7 days, while Cardano’s ADA is at $25.4, up 41% in the same period. Solana has also seen a significant rise of 35% in the past week.
Fundamentals: Cheeky Crypto Insights and Cardano’s ADA
Cheeky Crypto offers a membership with various benefits, including live AMAs, technical analysis sessions, and trading ideas. Cardano’s ADA has a circulating supply of 34 billion out of 45 billion, and on-chain data reveals active addresses, transactions, and block information. Wallet sizes holding over 1,000, 10,000, 100,000, and 1 million ADA are also analyzed.
Liquidations and Total Value Locked (TVL)
Liquidations for ADA have been minimal in the last 24 hours, with Binance accounting for the most at $66,000. TVL in ADA has grown from 165 million to 620 million ADA in the last year, demonstrating continuous growth even during the bear market.
Price Analysis: Short-Term, Daily, and Weekly Targets
1-Hour Chart: ADA has seen a recent pump but might test the upper area. Short-term targets are set at 23-22.78 cents.
1-Day Chart: ADA appears to be in the fifth wave move to the downside. Targets set at 22.95-22.84 cents.
Weekly Chart: SMA indicator shows potential resistance at $28.27. Bearish sentiment with targets at 18-15.17 cents.
Final Thoughts and Disclaimer
The overall outlook for the crypto market remains bearish, and caution is advised. JB emphasizes that he is not a financial advisor and the content is for informational purposes only.