cardano (ADA) was last changing hands at a low of $0.39 and is therefore trapped well within this week’s $0.38-$0.40ish range.
cardano The lack of volatility is surprising, given that Wednesday’s Fed meeting on Friday’s US jobs report caused considerable turmoil in crypto and broader financial markets.
But ada The bulls will be encouraged by the fact that the $0.38 support level has remained stable, and ADA has not declined below its 50 or 100-day moving averages.
somewhat ominously, cardano A descending triangle has formed in recent weeks, often forming before bearish breakouts.
A break below the near-term support at $0.38 could open the doors for a drop back to low-$0.30.
But ADA could also break north of its recent downtrend, which would open the door for a move towards late April highs in the $0.42 area at the very least.
Under the hood, some of the key on-chain metrics are signal strength in the Cardano network.
Courtesy of A chart being widely shared in the crypto media on Friday EmotionShows that on-chain ADA trading volume has continued to increase in recent weeks, with some recent examples of large daily spikes to multi-month highs.
Meanwhile, in a separate chart courtesy of intoblock Shows that on-chain transactions of at least $100,000 in size increased by 33% between 28th april and 3third Of May.
Cardano whales seem to be ramping up on-chain activity.
Do whales know something we don’t?
Why can whales transact in large quantities?
No one can know for sure until you can look inside the mind of each and every one of the Cardano whales who are moving large sums of money into the blockchain.
But Cardano is still down about 87% from its 2021 peaks, even though the crypto markets are largely looking to be in the early stages of a new bull market, the smart money may be on the move to buy the dip.
And as the new crypto spring approaches, Cardano’s ecosystem is showing a lot of promising signs.
Cardano remains one of the most highly developed blockchain and new decentralized finance (DeFi) projects – such as the much talked about launch of Cardano. Cardano-based DJED stablecoin Project – moving forward, which admittedly is still running small, but is developing rapidly Cardano trade value locked in smart contracts.
With Cardano’s long-term prospects looking good, it’s perhaps not surprising given the increasing whale activity the smart money is moving towards.
Cardano (ADA) an alternative to consider – Ecotera (Ecotera)
While Cardano may do well alongside the broader crypto markets in the coming years, investors should always seek to diversify their crypto portfolios.
One high-risk-high-reward investment strategy that some investors may consider is getting involved in crypto presales.
This is where investors buy tokens of up-start crypto projects to help fund their development.
These tokens are almost always sold very cheaply and have a long history of pre-sales providing huge exponential returns to early investors.
Many of these projects have great teams behind them and a great vision to deliver a revolutionary crypto application/platform.
If an investor can identify such projects, the risk/reward of their pre-sale investment is great.
on the team cryptonews Spends a lot of time combing through pre-sales projects to help pick out investors.
The up-and-coming one of his favorites at the moment green crypto the project is called ecoterra,
ecoterra is building an all-in-one application that 1) rewards users with ECOTERRA crypto tokens every time they recycle, 2) provides a carbon offset marketplace for individuals and businesses to offset their carbon footprint and 3) provides a recycled materials marketplace to make it easier for businesses to purchase recycled goods using ECOTERRA or other cryptocurrencies.
The app also allows individuals and businesses to track their eco-friendly practices. This can help businesses improve their brand image and increase customer loyalty.
Join Ecotera Presale now
To fund the development of its revolutionary platform, Ecotera is holding a pre-sale of its ecoterra Token application of willpower.
50% of the total 2 billion supply will be released during the presale, with 20% reserved for ecosystem liquidity, 10% for listing, 10% for marketing, 5% for the development team, and 5% for corporate adoption.
Within weeks of the launch of pre-sales, the project has Has already raised an impressive $3 millionThis momentum is likely to accelerate in the coming weeks as the project gains more traction on social media.
The signs on this front are promising – Ecoterra’s Discord channel already has over 5,000 subscribers and the project continues to secure recycling partnerships with major brands.
ECOTERRA tokens are currently selling for $0.007 each, but should interest investors move quickly within four days, the price will rise to $0.00775.
ECOTERRA will then be listed on exchanges at $0.01 in a few months, meaning investors who get in now will be sitting on a 40% profit.