Majority of on-chain indicators for Cardano signaling a bearish trend despite a bullish Bid-Ask Volume Imbalance
addresses, has also been trending downward, indicating a decline in network growth and potential bearishness. Additionally, a decrease in the number of large transactions often implies a lack of interest from institutional investors, again hinting at a bearish trend.
However, ADA's Bid-Ask Volume Imbalance remains bullish, indicating that there may still be strong buying pressure. This indicator measures the difference between the volume of ADA on the buying side and the selling side of the order book. When this imbalance is positive, it suggests that there is a higher demand to buy ADA than sell, potentially driving up the price.
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