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On Friday, cardano (ADA<\/a>) gained 0.34%. Partially reversing a 2.34% slide from Thursday, ADA ended the day at $0.293.<\/p>\n This morning, ADA was down 0.34% to $0.292. A mixed start to the day saw ADA rise to an early high of $0.294 before falling to a low of $0.290.<\/p>\n<\/div>\n<\/div>\n The Daily Chart showed ADA remained below the $0.303 \u2013 $0.306 resistance band. Importantly, ADA remained below the 50-day\u00a0($0.308) and 200-day ($0.348) EMAs<\/a>, sending bearish near and longer-term price signals.<\/p>\n This morning, the 50-day EMA eased back from the 200-day EMA, reflecting bearish momentum.<\/p>\n Looking at the 14-Daily RSI, the 42.07 reading signaled bearish sentiment. Aligned with the EMAs, the RSI signals an ADA fall through the $0.287 \u2013 $0.284 support band. However, a move through the $0.303 \u2013 $0.306 resistance band would give the bulls a run at the 50-day EMA ($0.308).<\/p>\n Looking at the 4-Hourly Chart, ADA sits below the 50-day ($0.302) and 200-day ($0.305) EMAs<\/a>, sending bearish near and longer-term price signals.<\/p>\n Notably, the 50-day EMA pulled back from the 200-day EMA, reflecting bearish near-term momentum.<\/p>\n Looking at the 14-Daily RSI, the 34.99 reading signaled bearish sentiment, with selling pressure outweighing buying pressure. Aligned with the EMAs, the RSI signals an ADA fall through the $0.287 \u2013 $0.284 support band to bring sub-$0.280 into view.<\/p>\n Input Output HK (IOHK) released<\/a> the second-quarter network, financial, and ecosystem metrics.<\/p>\n While the metrics were broadly ADA price negative, an upward trend in total value locked provided a positive spin. Increasing from 138.3 million in Q1, the total value locked stood at $151.7 million in the second quarter.<\/p>\n Average daily transactions were also up quarter-on-quarter while down compared with Q2 2022.<\/p>\n However, average daily addresses declined for the third time in four quarters, with quarterly NFT trading volumes and active staked ADA also seeing downward trends.<\/p>\n The Input Output HK (IOHK) weekly development report provided ADA price support. An increase in projects building on the Cardano network and a rise in transactions sent bullish price signals.<\/p>\n According to the Weekly Development Report<\/a>,<\/p>\n While it is a quiet day for the crypto markets, investors should monitor the crypto news wires for updates on SEC plans to appeal the SEC v Ripple Court ruling.<\/p>\n ADA sits in the SEC \u2018Security basket\u2019, leaving ADA sensitive to SEC scrutiny of the digital asset space.<\/p>\n However, investors should track ETF chatter and\u00a0Binance<\/a>\u00a0and Coinbase (COIN<\/a>)-related news, which will continue to move the dial.<\/p>\n \u00a0<\/p>\n<\/div>\n<\/div>\nADA Price Action<\/h2>\n
Daily Chart<\/h2>\n
4-Hourly Chart<\/h2>\n
Input Output HK Updates Provided Price Support<\/h2>\n
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The Day Ahead<\/h2>\n