{"id":136376,"date":"2024-08-28T22:00:17","date_gmt":"2024-08-28T19:00:17","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=136376"},"modified":"2024-08-28T16:46:45","modified_gmt":"2024-08-28T13:46:45","slug":"cardano-traders-anticipate-price-recovery-despite-recent-declines","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/cardano-traders-anticipate-price-recovery-despite-recent-declines\/","title":{"rendered":"Cardano Traders Anticipate Price Recovery Despite Recent Declines"},"content":{"rendered":"<p><strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/cardano\/\">ADA<\/a><\/strong> has recently hit a seven-day low of $0.35 amid challenging market conditions. Despite this, traders remain optimistic about a rebound. Data from Coinglass reveals that the 4-hour Long\/Short ratio for ADA stands at 2.91, indicating that nearly 75% of traders are betting on a price increase, with only 25% predicting further declines.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/beincrypto.com\/wp-content\/uploads\/2024\/08\/cardano-price-rebound-expected.png.webp\" alt=\"Cardano Long\/Short Ratio. \"><\/p>\n<p>This bullish sentiment is supported by on-chain data from IntoTheBlock, which shows that ADA holders are increasingly holding onto their assets. The Coins\u2019 Holding Time metric has risen by 64% over the past week and 103% over the past month, suggesting confidence among holders.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/beincrypto.com\/wp-content\/uploads\/2024\/08\/cardano-coins-holding-time.png.webp\" alt=\"Cardano Coins Holding Time. \"><\/p>\n<p>The Moving Average Convergence Divergence (MACD) indicator also points to potential bullish momentum, despite ADA\u2019s 15% price drop since Saturday.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/u-s-bitcoin-etfs-face-127-million-in-outflows-ending-positive-streak\/\" title=\"U.S. Bitcoin ETFs Face $127 Million in Outflows, Ending Positive Streak\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2024\/03\/cryptoetfetf-240x170.jpg\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">U.S. Bitcoin ETFs Face $127 Million in Outflows, Ending Positive Streak<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>A positive MACD reading suggests a possible price increase if ADA maintains its position above $0.34. Failure to hold this level could lead to further declines, potentially to $0.31. Conversely, maintaining support could push ADA towards $0.39.<\/p>\n<p>Traders are also wary of a potential long squeeze, which could occur if a significant price drop forces those betting on a rise to sell their positions to mitigate losses.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cardano (ADA) derivatives traders are showing strong confidence that the altcoin will recover from its recent price drop, according to recent data from BeInCrypto and Coinglass.<\/p>\n","protected":false},"author":3,"featured_media":33534,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[24],"tags":[],"class_list":["post-136376","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoins"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.8.1 - 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