Cardano (ADA) Records 428% Surge in Volume Amid Market Bloodbath – Is It a Buying Opportunity?
The post Cardano (ADA) Records 428% Surge in Volume Amid Market Bloodbath – Is It a Buying Opportunity? appeared on BitcoinEthereumNews.com.
Cardano’s 428% surge in trading volume amid price decline suggests heightened volatility and potential interest despite bearish sentiment. Speculation around a possible Cardano ETF launch in February fuels investor optimism, potentially boosting ADA’s price and ecosystem. Amid a volatile market, Cardano (ADA) is making waves with a 428% surge in trading volume despite experiencing price declines. As of press time, Cardano’s trading volume had reached $3.77 billion, a 428.86% increase. This surge in activity comes despite ADA’s recent 20.05% price drop over the past 24 hours, with the coin trading at $0.7098. However, some analysts have remained bullish, arguing that these levels could represent a key buying opportunity. The trading volume has risen while its market capitalization has decreased by 20.13%, standing at $24.97 billion. This gap between volume and price suggests that ADA traders are experiencing heightened volatility, with many allegedly in “flight mode” over the weekend. Despite this, the market still feels the impact of a broader crypto selloff, driven by geopolitical factors such as the tariff war in North America. ADA has remained in the spotlight due to its volume surge, suggesting potential interest from traders despite the overall bearish sentiment. Capitulation Phase and Potential for Recovery Experts have compared Cardano’s current price behavior and the final drop, or “capitulation candle,” observed in its previous market cycle. Some analysts believe ADA could be on a rally stage, possibly reaching $14, as earlier predictions have suggested. However, traders are urged not to wait for a dip to $0.64, as this price point may only be a brief capitulation wick before the market stabilizes and recovers. $ADA update: You can’t make this shit up. We’re really tracking last year’s cycle. Just look at the two images and see the stupid similarities. We’re now at the capitulation candle to test…
Filed under: News - @ February 4, 2025 5:15 am