女老闆

07/06 09:53

Is Cardano’s price rally over? Here’s why ADA coul

#World Cup Predictions: 100,000 USDT Daily #BTC Prophet: 20-Day 380 Million HTX Challenge #HTX Invites You to Share 600K USDT in Gift Packs Is Cardano’s price rally over? Here’s why ADA could target $0.30 nextEvery sharp parabolic rally can easily be written off as another hype cycle. At first glance, Cardano [$ADA] seems to fit that narrative. After three consecutive red quarters, each posting average losses of more than 40%, $ADA had become one of the weakest-performing major altcoins this cycle. But is that trend finally starting to reverse? From the technical standpoint, $ADA has kicked off Q3 with a strong 30% rally, outperforming the broader altcoin market. More notably, its gains are over 2.3x larger than Ethereum’s [ETH] so far this quarter, suggesting that capital may be rotating back into $ADA as momentum begins to build. Source: TradingView ($ADA/USDT) But zooming into the charts, things start looking a bit different. On the daily timeframe, $ADA has already pulled back more than 2% in under 48 hours after pushing above the $0.20 level, a resistance it also failed to clear back in mid-June. That repeated rejection keeps a breakdown firmly in play. Pair that with a near-parabolic run over the past week, and it’s not surprising to see traders taking profits instead of chasing higher prices. At first glance, that makes it easy to label $ADA’s rally as just another hype cycle. The fundamentals don’t help that case either. Cardano’s total value locked (TVL) has dropped nearly 68% over the past year. According to DefiLlama, TVL has fallen from $276.19 million to around $89.16 million today, a sharp decline that suggests on-chain liquidity has yet to catch up with the recent price action. Taken together, the charts and on-chain data make $ADA’s recent 2% pullback look like the start of a deeper correction. But markets are all about timing. And right now, the timing suggests FOMO is still in play.

1Share