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Navigating Cardano’s ADA: Market Analysis, Price Action, and Fundamentals


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.

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