Crypto Express
07/11 11:14
ADA on-chain metrics
Finally, on-chain metrics suggested that this conviction was absent. The development activity has slowly trended lower since February. Once known for its high dev activity, the dropping rates could concern investors. The 180-day circulation underlined reduced on-chain activity, alongside the muted daily active addresses.
The falling circulation hinted at a slide in unique ADA transactions. The daily active addresses have been lukewarm since March. Until organic demand makes its way into the market, a Cardano recovery would be difficult.
Therefore, traders can expect a move to $0.66-$0.68, especially if the Bitcoin [BTC] trajectory remains bullish. A breakout past the $0.68 resistance would be difficult indeed, and traders and investors could look to stay sidelined until ADA manages to break out beyond that supply zone.
#Check In Daily, Win Prizes Daily — Join the Fun!#Share Your Thoughts on Popular Assets in June#Claim1,200 USDT in the Monthly Creation Challenge#Do you think Tanssi is promising? #Trump family backs TRON's US listing
81Share
All Comments0LatestHot
No records