Positive approach for Cardano for 8 months already

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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, where our technical analysis is usually ready 48 hours earlier to our members.

What is Cardano (ADA)?

Before we can proceed with the analysis, a clear distinction must first be made 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

Despite the fact that the price of cardano has moved relatively sideways in recent months, positive cardano news has still come out. James Butterfill, who works for CoinShares, has said in a new report that the bottom line cash flow for the ADA token has been positive for eight consecutive months. This means that more money has flowed into the project in recent months than has been withdrawn. This can of course be partly explained by the new Vasil update, but could also indicate that Cardano is becoming increasingly popular.

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 (can) 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

For ADA, the Crypto Insiders analysts in the Premium membership community expect the price to see a further drop. ADA is currently working on one ABC internal wave structure in a larger 12345 elliott wave pattern. The fourth wave of this pattern could take us towards the 127.2% and 161.8% Fibonacci levels. We are therefore keeping a close eye on this course in the Discord community.

The above ADA analysis was shared in our Discord area for members on September 22, 2022.

Buy or sell ADA?

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