The Bull Market of Cardano (ADA): Pricing Act Analysis
In the world of cryptocurrencies, there are few assets that have constantly demonstrated a trajectory of strong and sustainable growth. Among these is Cardano (Ada), a decentralized blockchain platform that has waveted in the cryptocurrency market for years. In this article, we will take a closer look at the ADA’s prices action during his recent rush to the Tori Market.
What is the action of the price?
Before immersing yourself in the action of Ada’s prices, it is essential to understand what the action of the price means in the context of cryptocurrency trading. The action of prices refers to the visual representation of the price movements of a cryptocurrency over time, including ups and minimal, sauces and peaks and other significant variations in prices.
In the case of Cardano (Ada), our analysis will focus on its historical action on prices during its recent race to the Bull Market market, from October 2017 to February 2023. This period has seen ADA experimenting with a significant growth in prices , which we will examine in detail below.
Action of the historical price:
To understand why the action of Cardano’s prices was so bullish, let’s take a look at some key metrics:
* Daily volume:
On average, the daily volume for Ada has increased by 20% every day during its race to the bull market. This indicates a high level of purchase activities.
* Open interest: The open interest (OI) for Ada has increased to over 1 million on several occasions during this period, indicating a strong demand by institutional and detail traders.
* Index of the Plamino stripon (RSI): Ada’s RSI was found in hyper -time territory during its race to the Taurus market, with a reading of less than 30. This generally indicates that the activity is due to A Pullback.
Now, let’s take a look at the action of the price itself:
| Date | High | Bass | Change |
| — | — | — | — |
| 31 October 2017 | $ 0.29 | $ 0.02 | 1,444% |
| 28 November 2017 | $ 0.35 | $ 0.01 | 3,700% |
| 22 Dec 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% |
| 21 Dec 2022 | $ 2.00 | $ 0.02 | 10,000% |
Bull Market Insights:
During his race to the Tori market, Cardano (Ada) experienced some significant characteristics of prices:
* Dips on the Moon: Ada has often experienced jumps on the moon of about $ 1-3, which is a common phenomenon in cryptocurrencies. However, during this period, Ada’s price went back from these minimums without significant losses.
* Consistent earnings:
The average daily gain for Ada was more than 50%, indicating that the activity was constantly increasing in value during its racing to the bull market.
* Increase in the volume of negotiation: The increase in the daily negotiation volume was a key indicator of demand and interest for Ada during this period.
Tori market drivers:
Several factors have contributed to the success of the Cardano bull market:
- Ada 2.0: The release of Ada 2.0, also known as «The Munge», has marked a significant change towards Ethereum -based projects. This transition from a test model (POW) to a POS (POS) model should have increased scalability and adoption.
- Decentralized applications (APPS): The growth of DAPPS, such as AAVE, compound and flow, has created new cases of use for Ada and attracted institutional investors.
- Partnership and collaborations: Ada partnerships with the main blockchains companies such as IBM, Intel and Microsoft have contributed to increasing its visibility and credibility.
Conclusion of the Bull Market:
The Cardano Tori Market race was fed by a combination of factors, including the release of Ada 2.0, the increase in the commercial volume and the partnerships with reliable institutions. The action of the prices of the activity during this period has shown constant growth without significant losses, making it an interesting investment opportunity for investors.