Cardano (ADA), the eighth-largest cryptocurrency, finds itself in a perplexing situation as it grapples with a battle between bullish and bearish forces, leaving investors deciphering mixed signals in a turbulent market.

第八大加密货币卡尔达诺（ADA）发现自己陷入了令人困惑的境地，因为它正在努力应对看涨和看跌力量之间的斗争，让投资者在动荡的市场中解读复杂的信号。

相关阅读：狗狗币大规模抛售：1亿狗狗币淹没Robinhood，投资者准备迎接价格影响

The optimism that briefly emerged on January 29th, as ADA’s market structure turned bullish, proved short-lived, unable to overcome the critical $0.50 support level, and remaining stuck in the $0.48 territory.

1 月 29 日，随着 ADA 的市场结构转向看涨，短暂出现的乐观情绪被证明是短暂的，无法突破 0.50 美元的关键支撑位，并仍停留在 0.48 美元的区域。

Social media sentiment, often a precursor to price movements, has not provided solace either. Santiment’s “weighted social sentiment” metric has steadily declined over the past ten days, reflecting tepid investor confidence.

社交媒体情绪通常是价格变动的先兆，但也没有提供安慰。 Santiment 的“加权社会情绪”指标在过去十天内稳步下降，反映出投资者信心不温不火。

Source: Coingecko

来源：Coingecko

ADA’s Metrics: Confusion Amidst Bullish Signals

ADA 指标：看涨信号中的混乱

The confusion deepens when examining on-chain metrics. While the negative MVRV ratio suggests ADA might be undervalued, the sustained presence in negative territory raises concerns. Conversely, the increasing number of active addresses, signaling heightened network activity, offers a glimmer of hope for bullish investors.

当检查链上指标时，混乱会加深。虽然负 MVRV 比率表明 ADA 可能被低估，但持续处于负值区域引发了担忧。相反，活跃地址数量的增加表明网络活动加剧​​，为看涨的投资者带来了一线希望。

Complicating the outlook is the liquidation heatmap from Hyblock. Two prominent zones add complexity: the $0.45-$0.48 region, hosting an estimated $300 million in liquidation levels, and the $0.52-$0.54 zone, carrying similar selling pressure. A drop to the former could trigger buying activity as long positions close, while the latter’s fate hinges on Bitcoin’s (BTC) movement, given ADA’s tendency to follow its lead.

Hyblock 的清算热图使前景变得更加复杂。两个突出的区域增加了复杂性：0.45-0.48 美元区域，估计有 3 亿美元的清算水平；0.52-0.54 美元区域，承受着类似的抛售压力。前者的下跌可能会随着多头头寸平仓而引发买盘活动，而鉴于 ADA 倾向于追随其领先地位，后者的命运取决于比特币 (BTC) 的走势。

ADA currently trading at $0.4809 on the daily chart: TradingView.com

ADA 目前在日线图上的交易价格为 0.4809 美元：TradingView.com

Industry experts remain divided on Cardano’s future. Santiment suggests that the increased bearish sentiment might hint at an impending price bounce, while others exercise caution, citing the lack of definitive follow-through after the initial bullish market structure shift.

行业专家对卡尔达诺的未来仍存在分歧。桑蒂门特表示，看跌情绪的增加可能暗示价格即将反弹，而其他人则持谨慎态度，理由是在最初的看涨市场结构转变后缺乏明确的后续行动。

🐻 With #crypto market caps ranging and lacking the usual growth traders have been accustomed to since the #bullcycle began in October, there is a notable #bearish sentiment that has taken hold of #crypto discourse this week. #Bitcoin, #Ethereum, #BinanceCoin,

🐻 由于 #crypto 市值波动较大，且缺乏交易者自 10 月份 #bullcycle 开始以来所习惯的增长，因此本周 #crypto 讨论中出现了明显的 #bearish 情绪。 #比特币、#以太坊、#BinanceCoin、

(Cont) 👇 pic.twitter.com/c3M4bPxlhi

（续）👇 pic.twitter.com/c3M4bPxlhi

— Santiment (@santimentfeed) February 5, 2024

- Santiment (@santimentfeed) 2024 年 2 月 5 日

Source: Santiment

资料来源：Santiment

Cardano Dips Amidst Stability: Mixed Signals

卡尔达诺在稳定中下跌：混合信号

Cardano (ADA) is currently navigating a bearish trend, experiencing a 2.93% decrease in the past 24 hours and declines of 1.13% and 10.33% over the past week and month respectively. Despite this dip, it maintains its position as the 8th largest cryptocurrency by market cap, suggesting some underlying stability.

卡尔达诺（ADA）目前正处于看跌趋势，过去 24 小时内下跌 2.93%，过去一周和一个月分别下跌 1.13% 和 10.33%。尽管出现这种下跌，但按市值计算，它仍保持第八大加密货币的地位，这表明它具有一定的潜在稳定性。

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While the short-term technical picture appears bleak, longer-term indicators offer potential for cautious optimism. The increasing number of active addresses hints at growing network activity, a potential bullish sign.

虽然短期技术面显得黯淡，但长期指标提供了谨慎乐观的可能性。活跃地址数量的增加暗示网络活动不断增长，这是一个潜在的看涨信号。

Additionally, the negative MVRV ratio, although concerning in its extended presence, could indicate undervaluation. However, this needs to be balanced against the crucial resistance zones identified around $0.54-$0.56, which could hinder upward momentum.

此外，负 MVRV 比率虽然长期存在令人担忧，但可能表明估值被低估。然而，这需要与 0.54-0.56 美元附近的关键阻力区相平衡，这可能会阻碍上涨势头。

Overall, ADA’s future trajectory remains uncertain. Further analysis would benefit from exploring the reasons behind the recent price decline, potential catalysts for recovery, and a deeper dive into long-term fundamentals like development progress and adoption rate.

总体而言，ADA 的未来轨迹仍然不确定。进一步的分析将有助于探索近期价格下跌背后的原因、复苏的潜在催化剂以及更深入地研究开发进度和采用率等长期基本面。

Featured image from Freepik, chart from TradingView

精选图片来自 Freepik，图表来自 TradingView

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