If #cardano price fails to climb above the $0.4740 resistance level and the 100 simple moving average (4 hours), it could continue to move down. Immediate support on the downside is near the $0.450 level.
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The next major support is near the $0.4280 level. A downside break below the $0.4280 level could open the doors for a test of $0.40. The next major support is near the $0.3880 level.

As ethereum continues its price fluctuations, technical indicators on the 1-hour, 4-hour, and daily charts suggest a bearish outlook with mixed trading signals. Despite some bullish undercurrents, the predominant sentiment remains cautious.
Ethereum’s (ETH) price action has shown a downward trend on the 1-hour chart, marked by a series of lower highs and lower lows, signaling continued bearish momentum. This downtrend is mirrored in the 4-hour chart where a recent sharp decline was followed by a modest recovery, only to descend again, indicating strong selling pressure. The daily chart underscores this bearish narrative with a significant downward trend from recent highs near $3,730, further solidified by the recent consolidation, suggesting a weakening momentum in the sell-off.
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When Ethereum price tumbled to a 2024 low of $2,868 on April 19, it sparked fears of an incoming post-Bitcoin Halving crash driving ETH to new lows. However, rather than entering a large scale sell-off, ETH whale holders and Liquidity Staking Derivatives (LSD) users turned to the yield staking contracts to tide over the market downturn with passive income.
As hinted in an earlier report from The Crypto Basic, a $620 million surge in Ethereum 2.0 staking appears to have helped slow down the selling pressure in ETH markets over the past week.
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Cardano is witnessing a resurgence of whale interest, as large transactions on the network soar to an average of $13 billion a day over the last seven days.
On-chain data from blockchain surveillance resource IntoTheBlock confirms this trend. IntoTheBlock took to X today to reveal that Cardano has commanded some of the largest daily transaction volumes over the last week, nearly competing with the premier cryptocurrency.
According to the disclosure, the volume of ADA transactions worth at least $100,000 has surged to a daily average of $13.84 billion in the past seven days. Further data suggests that this massive volume is a third of Bitcoin’s volume within the same timeframe, and more than 16x the volume of Dogecoin.
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Cryptocurrency analysis platform Coin98 conducted an in-depth analysis of each Binance Launchpool, revealing which tokens are more profitable to stake.

Since 2020, 51 projects have been listed on Binance Launchpool and 4 projects on Binance Launchpad. The number of Binance Launchpool projects has been growing steadily for the last three years. Remarkably, 12 projects were listed in just the first four months of 2024.

The sectors to which the projects listed on Binance Launchpool belong have changed over the years:

2020: DeFi
2021: Gaming, Fan Token, Infrastructure, Layer 1, DeFi
2022: Gaming, DeFi
2023: DeFi, Infrastructure, Layer 1, AI, Meme, SocialFi
2024: Gaming, Infrastructure, DeFi (Restaking), Artificial Intelligence, Layer 1, Layer 2
Sectors gaining the most attention since the beginning of 2023 include Gaming (with 4 projects listed), Infrastructure and restaking, and Artificial Intelligence.

The average Farm Season from 2020 to late 2023 lasted 30 days. However, since December 2023, the Farm Period has shortened and ranged from 2 to 10 days, with an average of 5 days per project.

From 2023 until today, there were only 3 pools in Binance Launchpool: BNB Pool, FUSD Pool and TUSD Pool. Investors tend to prefer the BNB pool over the other two stablecoin pools.

According to analysts, one of the main advantages of investing in the BNB pool is the potential for double profit: profit from the amount of tokens allocated from the pool and double profit from the increase in the price of BNB.

So, what is the average profit of each participant if $1000 is invested in each pool? Here are the project names, the end date of farming in the pool, farming duration in days and the altcoin profit per 1000 dollars of each pool.

Xai (XAI):
January 9, 2024

4 days

FUSD pool: $4.98

BNB pool: $5.38

TUSD pool: $5.90

Sui (SUI):
January 9, 2024

4 days

FUSD pool: $7.73

BNB pool: $11.74

Radiant Capital (RDNT):
January 9, 2024

4 days

FUSD pool: $0.93

BNB pool: $1.38

Maverick Protocol (MAV):
January 9, 2024

4 days

FUSD pool: $2.57

BNB pool: $4.40

Pendle (PENDLE):
January 9, 2024

4 days

FUSD pool: $6.53

BNB pool: $17.10

CyberConnect (CYBER):
January 9, 2024

4 days

FUSD pool: $16.59

BNB pool: $12.79

TUSD pool: $14.87

Sei (SEI):
January 9, 2024

4 days

FUSD pool: $50.54

BNB pool: $35.06

TUSD pool: $43.12

Neutron (NTRN):
January 9, 2024

4 days

FUSD pool: $7.65

BNB pool: $3.66

TUSD pool: $6.23

Memecoin (MEME):
January 9, 2024

4 days

FUSD pool: $11.26

BNB pool: $7.09

TUSD pool: $10.57

Fusionist (ACE):
January 9, 2024

4 days

FUSD pool: $9.02

BNB pool: $5.89

NFPrompt (NFP):
January 9, 2024

4 days

FUSD pool: $5.83

BNB pool: $5.10

TUSD pool: $6.97

Sleepless Al (AI):
January 9, 2024

4 days

FUSD pool: $6.76

BNB pool: $6.81

TUSD pool: $7.54

Manta Network (MANTA):
January 9, 2024

4 days

FUSD pool: $7.67

BNB pool: $5.04

AltLayer (ALT):
January 9, 2024

4 days

FUSD pool: $19.87

BNB pool: $17.72

Pixels (PIXEL):
January 9, 2024

4 days

FUSD pool: $15.79

BNB pool: $13.96

Portal:
January 9, 2024

4 days

FUSD pool: $4.23

BNB pool: $4.15

Aevo (AEVO):
January 9, 2024

4 days

FUSD pool: $7.90

BNB pool: $5.73

Ether.fi (ETHFI):
January 9, 2024

4 days

FUSD pool: $7.47

BNB pool: $12.62

Ethena (ENA):
January 9, 2024

4 days

FUSD pool: $30.01

BNB pool: $20.75

Saga (SAGA):
January 9, 2024

4 days

FUSD pool: $12.80

BNB pool: $13.17

Omni Network (OMNI):
January 9, 2024

4 days

FUSD pool: $3.77

BNB pool: $4.52

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*This is not investment advice.

Cardano (ADA) is moving lower below the $0.500 resistance zone. ADA could gain bearish momentum and decline if it stays below the 100 SMA (H4).
ADA price is slowly moving lower from the $0.520 zone.The price is trading below $0.500 and the 100 simple moving average (4 hours).There is a key bearish trend line forming with resistance at $0.4740 on the 4-hour chart of the ADA/USD pair (data source from Kraken).The pair could attempt a fresh increase if the bulls remain active above the $0.4280 support.
Cardano Price Faces Key Hurdles
In the past few days, Cardano saw a steady decline from the $0.520 resistance zone, like Bitcoin and Ethereum. ADA price declined below the $0.500 and $0.4950 levels to enter a bearish zone.
There was a move below the 50% Fib retracement level of the upward move from the $0.4000 swing low to the $0.5201 high. It even declined below $0.4650 and tested $0.450. The price is now trading below $0.500 and the 100 simple moving average (4 hours).
There is also a key bearish trend line forming with resistance at $0.4740 on the 4-hour chart of the ADA/USD pair. The bulls seem to be active near the $0.450 zone and the 61.8% Fib retracement level of the upward move from the $0.4000 swing low to the $0.5201 high.
On the upside, immediate resistance is near the $0.4740 zone, the 100 simple moving average (4 hours), and the trend line. The first resistance is near $0.4920. The next key resistance might be $0.500. If there is a close above the $0.50 resistance, the price could start a strong rally.
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