Cardano Increases by 15%: Big Wave or Dead End?

On Wednesday, December 11th, Cardano (ADA) price dropped to $1.01 but has increased by about 15% in the past 24 hours. This growth has restored hope among altcoin holders, showing that it may sustain an upward trend. Cardano has been one of the best performing currencies among the top currencies in the past 30 days. During this time, the currency reached its highest level in two years at $1.25 before cooling off and rebounding yesterday. However, there are two main reasons why this Cardano price increase may not be sustainable. First, the holding period of the trading coins has decreased significantly. As the name suggests, the holding period measures the time a cryptocurrency has been held without being sold. When it rises, it means that holders are holding their assets. Conversely, a decline indicates the opposite, which is true for ADA. If this trend persists or continues, ADA's price may struggle to hold steady at $1.16. Please provide the text to be translated. On Monday, the divergence between price and Daily Active Addresses (DAA) suggests that ADA's price increase may be short-term. This index assesses the relationship between blockchain activity and price movement. Usually, a price increase can attract more investors, stimulate demand and valuation. Similarly, an increase in the number of active addresses often signals higher investor interest, which is a positive sign for cryptocurrencies. However, data from Santiment shows a significant 134.26% decrease in the divergence between Cardano's price and DAA. This indicates that while ADA's price is rising, the number of active addresses is decreasing - a sign of a price decrease indicating a lack of support for the price increase. Therefore, ADA may face the possibility of a correction. Please provide the text to be translated. The indicators on the ADA/USD daily chart seem to support this downside prospect. One key indicator supporting this argument is the MACD (Moving Average Convergence Divergence). MACD uses the difference between the 12-day and 26-day Exponential Moving Averages (EMA) to measure momentum. When the index is positive, the momentum is positive. But in this case, the MACD index is negative, indicating that the momentum around the currency is declining. Considering the current conditions, the price increase of Cardano, which has brought it to $1.16, may face difficulties in sustaining.

In this scenario, the price of ADA could drop to $0.98. However, if momentum turns positive, investors may pave the way for an increase in price. If that happens, ADA could rise to $1.33 and potentially move towards the $2 level. Please provide the text you want to translate DYOR! #Write2Win #Write&Earn $ADA {spot}(ADAUSDT)