{"id":5331,"date":"2023-06-04T01:17:45","date_gmt":"2023-06-04T05:17:45","guid":{"rendered":"https:\/\/sikaoer.com\/cardano-price-prediction-for-june-is-ada-a-buy-or-sell\/"},"modified":"2023-06-04T01:17:45","modified_gmt":"2023-06-04T05:17:45","slug":"cardano-price-prediction-for-june-is-ada-a-buy-or-sell","status":"publish","type":"post","link":"https:\/\/sikaoer.com\/cardano-price-prediction-for-june-is-ada-a-buy-or-sell\/","title":{"rendered":"Cardano price prediction for June: Is ADA a buy or sell?"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<ul>\n<li dir=\"ltr\">\n<p dir=\"ltr\">Cardano has strong fundamentals as the total value locked jumps.<\/p>\n<\/li>\n<li dir=\"ltr\">\n<p dir=\"ltr\">Its DeFi TVL has jumped to the highest level on record.<\/p>\n<\/li>\n<\/ul>\n<p dir=\"ltr\">Cardano price had a difficult performance in March as cryptocurrencies recoiled. ADA slipped to a low of $0.36, where it has been in the past few days. This price is about 22% below the highest point in May, meaning it has now moved to a bear market. The coin&rsquo;s market cap has plunged to about $12.3 billion.<\/p>\n<h2 dir=\"ltr\">Fundamentals meet technicals<\/h2>\n<p dir=\"ltr\">Cardano price struggled in May even after its ecosystem recorded some significant growth during the month. A good way to look at the performance of a chain like Cardano is to look at the performance of its Decentralized Finance (DeFi) ecosystem.<\/p>\n<p dir=\"ltr\">The latest data shows that activity in Cardano&rsquo;s DeFi ecosystem is doing well. According to DeFi Llama, the TVL in Cardano jumped by more than 9% in May to over $202 million. That increase pushed it to the highest level since May last year.<\/p>\n<p dir=\"ltr\">Notably, the TVL soared to a record high in ADA terms. It is now sitting at 536.84 million ADA, which is higher than the year-to-date low of 263 million ADA. This is a signal that there is strong demand for dApps created in Cardano like Minswap, Indigo, Liquid, WingRiders, and MuesliSwap. MinSwap and Indigo&rsquo;s TVL has jumped by over 20% in the past 30 days.<\/p>\n<p dir=\"ltr\">The same trend happened in the number of active users. According to&nbsp;DeFi Llama, the total number of active users in Cardano jumped to more than 81.93k in May.&nbsp;<\/p>\n<p dir=\"ltr\">Therefore, Cardano&rsquo;s underperformance was not because of its weak fundamentals. Instead, it is because of the broader performance of the crypto market. In May, we saw Bitcoin price retreat from the year-to-date high of $31,000 to about $25,500. It dropped because of the debt ceiling issue and the rising hopes that the Fed will maintain its hawkish tone.<\/p>\n<h2 dir=\"ltr\">Cardano price prediction<\/h2>\n<p><\/p>\n<p dir=\"ltr\">The daily chart shows that the ADA price has pulled back in the past few days. It has dropped below the important support level at $0.42, the highest point on February 15. The coin is consolidating at the 50-period moving average.<\/p>\n<p dir=\"ltr\">Most importantly, it seems like it has formed a double-top pattern, which is usually a bearish sign. Therefore, we can&rsquo;t rule out a situation where the coin drops to the next key support level at $0.298, the lowest point on March 11. A move above the double-top point at $0.422 will invalidate the bullish view.<\/p>\n<h2 dir=\"ltr\">How to buy ADA<\/h2>\n<p dir=\"ltr\">\n<h3>\n    eToro<\/h3>\n<p>eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto\/fiat and crypto\/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.<\/p>\n<p>                    Buy ADA with eToro today            <\/p>\n<p>            <span class=\"border-b border-gray-600 border-dotted\">Disclaimer<\/span><br \/>\n            <span class=\"ml-1\"><\/p>\n<p>            <\/span><\/p>\n<h3>\n    Public<\/h3>\n<p>Public is an investing platform that allows you to invest stocks, ETFs, crypto, and alternative assets like fine art and collectibles&mdash;all in one place.<\/p>\n<p>                    Buy ADA with Public today            <\/p>\n<p>            <span class=\"border-b border-gray-600 border-dotted\">Disclaimer<\/span><br \/>\n            <span class=\"ml-1\"><\/p>\n<p>            <\/span><\/p>\n<p>The post Cardano price prediction for June: Is ADA a buy or sell? appeared first on CoinJournal.<\/p>\n<p><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/cardano-price-prediction-for-june-is-ada-a-buy-or-sell\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cardano has strong fundamentals as the total value locked jumps. Its DeFi TVL has jumped to the highest level on record. Cardano price had a difficult performance in March as cryptocurrencies recoiled. ADA slipped to a low of $0.36, where it has been in the past few days. This price is about 22% below the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4639,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39],"tags":[],"class_list":["post-5331","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-analysis"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.6 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Cardano price prediction for June: Is ADA a buy or sell? - Sikaoer - The Best Crypto News Site.<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sikaoer.com\/cardano-price-prediction-for-june-is-ada-a-buy-or-sell\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cardano price prediction for June: Is ADA a buy or sell?\" \/>\n<meta property=\"og:description\" content=\"Cardano has strong fundamentals as the total value locked jumps. Its DeFi TVL has jumped to the highest level on record. Cardano price had a difficult performance in March as cryptocurrencies recoiled. ADA slipped to a low of $0.36, where it has been in the past few days. This price is about 22% below the [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/sikaoer.com\/cardano-price-prediction-for-june-is-ada-a-buy-or-sell\/\" \/>\n<meta property=\"og:site_name\" content=\"Sikaoer - The Best Crypto News Site.\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-04T05:17:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/media.igms.io\/2023\/05\/01\/1685622580090-1cf909f6-e8f9-453c-9901-d03640e2653a.png\" \/>\n<meta name=\"author\" content=\"SikaoerAdmin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"SikaoerAdmin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/sikaoer.com\/cardano-price-prediction-for-june-is-ada-a-buy-or-sell\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/sikaoer.com\/cardano-price-prediction-for-june-is-ada-a-buy-or-sell\/\"},\"author\":{\"name\":\"SikaoerAdmin\",\"@id\":\"https:\/\/sikaoer.com\/#\/schema\/person\/43f022757a102cf0dbe32031e6c7cf67\"},\"headline\":\"Cardano price prediction for June: Is ADA a buy or sell?\",\"datePublished\":\"2023-06-04T05:17:45+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/sikaoer.com\/cardano-price-prediction-for-june-is-ada-a-buy-or-sell\/\"},\"wordCount\":524,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/sikaoer.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/sikaoer.com\/cardano-price-prediction-for-june-is-ada-a-buy-or-sell\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/sikaoer.com\/wp-content\/uploads\/2023\/05\/Crypto-price-prediction-Kava-Cardano-Render-Token.jpg\",\"articleSection\":[\"Market Analysis\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/sikaoer.com\/cardano-price-prediction-for-june-is-ada-a-buy-or-sell\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/sikaoer.com\/cardano-price-prediction-for-june-is-ada-a-buy-or-sell\/\",\"url\":\"https:\/\/sikaoer.com\/cardano-price-prediction-for-june-is-ada-a-buy-or-sell\/\",\"name\":\"Cardano price prediction for June: Is ADA a buy or sell? 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Its DeFi TVL has jumped to the highest level on record. Cardano price had a difficult performance in March as cryptocurrencies recoiled. ADA slipped to a low of $0.36, where it has been in the past few days. 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