Expected decline despite growth of the Cardano network

In the Premium environment of Crypto Insiders, current technical analysis is shared daily by experienced analysts. Cardano (ADA) has been discussed here regularly in recent times. In this section, we look back at this technical analysis and map the latest developments and expectations for the coming period. If you still have questions after reading this article, you can easily ask them in our Discord community, here our technical analyzes are usually shared with our members 48 hours earlier.

What is Cardano (ADA)?

Before we can continue with the analysis, let’s make a clear distinction between Cardano and ADA, because they are two different things. When we talk about Cardano, it is about the project and the blockchain platform. When we talk about ADA, it is about the associated crypto that lives on the Cardano blockchain. You can actually say that Cardano is the house and ADA is the resident of this house.

While Cardano can be used to receive and send ADA, blockchain can do much more. Cardano is also a platform on which smart contracts and smart contract applications can be made. If this sounds familiar, it may be true. This is what Ethereum (ETH) also does. However, this is not accidental. Charles Hoskinson and Jeremy Wood, the founders of Cardano, were early involved in the founding of Ethereum in 2013.

Latest Cardano news

Recently, the Cardano network achieved an interesting milestone. According to the website Cardano Essential, a website that monitors developments in and around Cardano, 1,000 different applications have been built. These applications are still being actively developed and are of course all built on the Cardano blockchain.

Another interesting fact is that Cardano is also widely used for non-functional token (NFT) projects. In total, there are now more than 6,000 different NFT projects active on Cardano.

What are the expectations for Cardano (ADA)?

Whether the above developments will have a further impact on the price depends on a wide range of factors that differ daily. After all, the crypto market is highly subject to economic events and traditional stock markets. Therefore, it is sometimes difficult to determine the right time to invest in a particular project. For example, a technical analysis can help determine the time frame in which a cryptocurrency is (or could be) interesting to buy or sell. Based on, for example, the investment history and the identification of patterns in price movements.

Technical analysis ADA price

Recently, a new technical analysis for ADA was shared in the Discord community by Crypto Insiders. Here, on the basis of an Elliott Wave analysis, a short rise towards the sell zone is expected before we can go down hard again. This is due to the ABC pattern, where the C wave always ends between 100% and 123.2% of the Fibonacci sequence. At the moment we are still waiting for confirmation of this pattern.

Would you like to read more of this kind of analysis in the meantime? Then take a look at the Premium environment. Here you can also get in direct contact with various analysts and crypto enthusiasts who are ready to help you!

image 1: The above ADA analysis was shared in our Discord community for members on July 25, 2022.

Buy or sell ADA?

Looking for crypto trading help? Then we would like to refer you to our Discord group for members. Here, experienced analysts and traders discuss their analyzes and trading plans on a daily basis. We are also the first to share our technical and fundamental analysis. In our Discord community we can share knowledge with each other 24/7 and we try to keep our premium members informed.

Disclaimer: Investing involves risks. Our analysts are not financial advisors. Always consult an advisor when making financial decisions. The information and tips on this website are based on our analysts’ own insights and experiences and are for educational purposes only.

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