Will These Factors Drive Cardano (ADA) Price In The Coming Days?

<div id="content"><div><div><div id="primary"><div><div><div><p>Today, major cryptocurrencies like Bitcoin, Ethereum, Cardano, Solana and others have been maintaining their price level above an important key level.</p><p>While talking about <a rel="nofollow noopener" target="_blank" href="https://coinpedia.org/altcoin/cardano-network-registers-breakthroughs-while-the-community-awaits-the-upgrade/">Cardano</a> recent price movements, the asset plunged towards $0.435 on July 13. However, the eighth cryptocurrency by market cap, saw a jump of 36% trading at $0.550 after six days.</p><p>The similar dump and pump pattern was followed again as Cardano was pulled down yet again on July 26 trading at $0.467. But later there was a surge of 20%. However, Cardano is following the footsteps of Bitcoin (BTC).</p><p>Now, when Cardano’s hourly chart is analyzed, it appears that the currency is about to surpass the support level of $0.5071. If bears get the stronger hold, then there will be a downfall towards $0.5040 by the end of the day.</p><figure><img src="image/svg+xml,%3Csvg%20xmlns=" alt="" data-lazy-src="https://lh6.googleusercontent.com/gBIfUvQ5l_cMepPRaHI-TKYpAok3Nf50wNXcDQ2Qe3B-og9fjIY0w1dFUGXnDpjHRsEuMjWYs_yPNatjv6SXXyajEPPcaGD3xZAUEGqS3j9_NVvmkRt9JvmFEVeTgNNOE4d5f0gJzB8fTRPBrAuyLjg"></figure><p>On the other hand, the daily time frame depicts that <a rel="nofollow noopener" target="_blank" href="https://coinpedia.org/price-analysis/cardanoada-price-setting-up-a-bullish-trend-may-surge-more-than-26-in-the-next-10-days/">Cardano (ADA)</a> is neutral as its trading is far from its crucial price levels. The altcoin may see a leg up only if the currency manages to acquire $0.52 area.</p><figure><img src="image/svg+xml,%3Csvg%20xmlns=" alt="" data-lazy-src="https://lh4.googleusercontent.com/V6wxO97bl-AJ-uXyyC6ukwLnlr7uB_Xdzge4CPuvmTypFwkTo0YQGNbmal1XjgpfI3DsnLwDJJycn4t38dCELLlo9ZX9w5kkX4bcj1w8Eh8CZdXonFR6GPiZ1DfBL3xv6ImXSZ8RDfXaHzIH535PD10"></figure><p>At the time of writing, Cardano is selling at $0.518 with a surge of 1.24% over the last 24hrs. Right now, the most important price range that the traders need to focus on is $0.5472.</p><h2 id="h-surge-in-cardano-s-on-chain-transfer-volume"><strong>Surge In Cardano’s On-Chain Transfer Volume</strong></h2><p>Meanwhile, <a rel="nofollow noopener" target="_blank" href="https://app.coinpedia.org/company/kraken">kraken</a><span><span><img src="image/svg+xml,%3Csvg%20xmlns=" alt="information" data-lazy-src="https://image.coinpedia.org/wp-content/uploads/2022/04/15111917/information-img.png"></span> <span> <span> <span> <a rel="nofollow noopener" target="_blank" href="https://www.kraken.com"> <img src="image/svg+xml,%3Csvg%20xmlns=" target="_blank" data-lazy-src="https://image.coinpedia.org/app_uploads/profile/1657188768548gfpqmmwa2u.png"></a> <span>kraken</span> <span></span> <span>a****<a rel="nofollow noopener" target="_blank" href="https://coinpedia.org/cdn-cgi/l/email-protection" data-cfemail="ef9daf849d8e848a81c18c8082">[email protected]</a></span> <span><span>Centralised Exchange</span></span> <span></span> <span> <span> <span><span>Followers :</span> 0</span> </span> <span> <span> <a rel="nofollow noopener" target="_blank" href="https://app.coinpedia.org/company/kraken">View profile <span><i aria-hidden="true"></i></span></a> </span> </span> </span> </span> </span> </span> </span> Intelligence data reveals that Cardano’s (ADA) daily on-chain transfer volume has jumped by 16% overtaking Bitcoin, Ethereum, Dogecoin and Algorand. On the other hand, Dogecoin saw a pull back of 54% in on-chain transfer volume for the month of July.</p><figure><img src="image/svg+xml,%3Csvg%20xmlns=" alt="" data-lazy-src="https://lh6.googleusercontent.com/9HWvE6p7yqbDIkVdbWA566wIrUKW7q3Cx6lPhLLUDU4jTgABMf03W50Pl4NCn-XlFrsoEG3byYK-HwFEDt7Fg-F_3pBZNcnWF_S3nhyFRo0lrKKPz9d8qlItxj7oI28sGkWMG5Uw4qB2n4SZ8fNrmbg"></figure><p>Also, the daily activity on a year-to-date basis is considered, Cardano has seen a rise of 238%.</p><p>According to the research, the introduction of numerous programs, such the metaverse game platform Pavia and decentralized exchange SundaeSwap, is the primary factor driving the rise.</p></div><div><div><h4>Was this writing helpful?</h4></div></div><p>Source: https://coinpedia.org/altcoin/will-these-factors-drive-cardano-ada-price-in-the-coming-days/</p></div></div><h2>Post navigation</h2></div></div></div></div>