Flow

Cardano

April

Daily

Note

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/cardano-sees-a-promising-start-to-the-week/" data-wpel-link="internal">Cardano Sees a Promising Start to the Week</a><br></p>
<p style="text-align: justify"><strong><a href="https://en.coin-turk.com/cardano-enthusiasts-rally-for-ada-support-in-brave-browser/" data-wpel-link="internal">Cardano</a></strong> (<a href="https://coin-turk.com/kripto-para-piyasasi-yeniden-yukselise-gecti-cardanoda-ada-son-durum-ne" data-wpel-link="internal">ADA</a>) owners experienced a glimmer of hope as <a href="https://en.coin-turk.com/crypto-analyst-predicts-over-74-surge-in-cardano-ada-price/" data-wpel-link="internal">ADA</a> started the week on a rise. Considering the significant drops in ADA’s value in recent weeks, this positive price movement was welcomed as a pleasant change. However, a closer look at the volume chart told a different story, raising doubts about the sustainability of the recent trend.</p> 
<h2 style="text-align: justify" id="cardano-ends-the-week-on-a-high-note">Cardano Ends the Week on a High Note</h2> 
<p style="text-align: justify">It was observed that Cardano ended the week on a rise. Daily analyses showed that the past week ended strongly. On April 20th, ADA experienced an approximate 8.3% increase, closing the day around $0.50.</p> 
<p style="text-align: justify">This increase marked a significant end to a consecutive rising trend that started on April 18th, providing a break from the significant drops observed the previous week. Currently, ADA is trading slightly above $0.51, with a modest increase of over 1.5%. However, despite the consecutive rising trends, ADA appears to continue to be entrenched in a bearish trend.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-342906 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/04/ada-coin-turk-com-1-3.png" alt="" width="1822" height="785"></p> 
<p style="text-align: justify">An examination of the Relative Strength Index shows that it remains below the neutral line, indicating a current lack of positive momentum in the price trend.</p> 
<h2 style="text-align: justify" id="no-increase-in-cardano-s-volume">No Increase in Cardano’s Volume</h2> 
<p style="text-align: justify">Recent analyses of Cardano’s market volume reveal a notable disparity between investor activities and price movement. Despite a positive price trend, there has not been a corresponding increase in volume, failing to surpass the $500 million threshold.</p> 
<p style="text-align: justify">At the beginning of the week, the volume had risen above $1.3 billion, but since then, it has nearly halved. Currently, the volume is hovering around approximately $402 million. This inconsistency indicates a lack of convergence between the price increase and volume, pointing to a potential sustainability issue in the price increase trend.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-342907 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/04/ada-volume-coin-turk-com-.png" alt="" width="1914" height="605"></p> 
<p style="text-align: justify">The stagnant volume points to a lack of participation by investors, which is critical for sustaining price increases. With an increasing volume, the current price trend could maintain and potentially strengthen its momentum.</p> 
<h2 style="text-align: justify" id="ada-s-cash-flow">ADA’s Cash Flow</h2> 
<p style="text-align: justify">In recent days, there has been a significant drop in Cardano’s open interest. Reviews by Coinglass highlight the effects of this decline. Currently, the open interest is around $216.6 million, a significant drop from the levels above $400 million recorded on April 10th. This decrease may indicate a reduction in ADA’s cash flow.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-342908 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/04/ada-acik-faiz-coin-turk-com-.png" alt="" width="1744" height="549"></p> 
<p style="text-align: justify">Nevertheless, there has been a slight increase in interest in ADA recently. However, it has not yet succeeded in returning to previous levels. Currently, there seems to be a slight increase in market attention, but Cardano’s open interest is struggling to compensate for the recent drop.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/cardano-sees-a-promising-start-to-the-week/" data-wpel-link="internal">Cardano Sees a Promising Start to the Week</a></h5>

Cardano Sees a Promising Start to the Week

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