The Haussier de Cardano market (ADA): analyze prices
In the world of cryptocurrencies, there are few assets that have always demonstrated a strong and lasting growth trajectory. Among them, Cardano (ADA), a decentralized blockchain platform that has been wave on the cryptography market for years. In this article, we will take a closer look at the ADA price action during its recent Haussier market race.
What is price action?
Before diving into ADA prices action, it is essential to understand what prices action means in the context of the trading of cryptocurrencies. Price action refers to the visual representation of price movements of a cryptocurrency over time, including ups and downs, hollows and points, and other notable price changes.
In the case of Cardano (ADA), our analysis will focus on its historic price action during its recent Haussier market managed, from October 2017 to February 2023. This period saw Ada knowing significant prices growth, which we will examine in detail below.
Action of historical prices:
To understand why the action of Cardano prices was so optimistic, take a look at certain key measures:
- Daily volume: On average, the daily volume of ADA increased by 20% each day during its bullish market. This indicates a high level of purchase activity.
- Open interest: The open interest (OI) for ADA has increased more than a million on several occasions during this period, indicating a high demand from institutional and detail traders.
- Relative force index (RSI): RSI of ADA was in territory occurring throughout its bull market, with a reading less than 30. This generally indicates that the asset is due to a decline.
Now let’s look at the price action itself:
| Date | Top | Stockings | Change |
| — | — | — | — |
| October 31, 2017 | $ 0.29 | $ 0.02 | 1,444% |
| November 28, 2017 | $ 0.35 | $ 0.01 | 3,700% |
| December 22, 2017 | $ 0.55 | $ 0.03 | 1,800% |
| January 30, 2018 | $ 1.08 | $ 0.04 | 4,000% |
| March 2, 2020 | $ 1.25 | $ 0.01 | 10,000% |
| December 21, 2022 | $ 2.00 | $ 0.02 | 10,000% |
Haussier market insights:
During its race on the Haussier market, Cardano (ADA) experienced certain notable price action features:
- DIPS on the Moon: Ada has often experienced dips on the moon about $ 1 to 3, which is a common phenomenon in cryptocurrencies. However, during this period, the ADA price rebounded from these stockings without significant losses.
- Coherent earnings: The ADA average daily gain was greater than 50%, which indicates that the assets constantly increased throughout its bull market.
- Increase in trading volume: The increase in daily trading volume was a key indicator of demand and interest in ADA during this period.
Haussier market pilots:
Several factors have contributed to the success of the Haussier de Cardano market:
- ADA 2.0: The release of ADA 2.0, also known as “Merge”, marked a significant change towards projects based on Ethereum. This transition from a model of work proof (POW) to a model of proof of putting (POS) had to increase scalability and adoption.
- Decentralized applications (DAPP): DAPP growth, such as Aave, Compound and Flow, has created new use cases for ADA and attracted institutional investors.
- Partnerships and collaborations: ADA’s partnerships with the main blockchain companies like IBM, Intel and Microsoft have contributed to increasing its visibility and credibility.
Conclusion of the Haussier market:
The management of the Haussier de Cardano market was fueled by a combination of factors, including the publication of the ADA 2.0, an increase in the volume of negotiation and partnerships with deemed institutions. The action of asset prices during this period has demonstrated constant growth without significant losses, making it an attractive investment opportunity for investors.
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