Cardano (ADA) has recently caught the attention of traders as it breaks free from a consolidating triangle pattern, signaling a potential new trend in the market. This pattern has been in place since early March, with bulls appearing to have the upper hand at the moment. The next target for ADA is the $1.20 resistance level, and there is anticipation for institutional and whale investors to enter the market as well.
One of the reasons for trader optimism about ADA’s breakout is the surge in trading volume and market cap. According to Token Terminal data, ADA’s trading volume has seen a significant increase since early July, indicating potential volatility to sustain the breakout. This rise in activity is a bullish sign, suggesting that liquidity is returning and retail traders are once again engaging with the token.
Additionally, Cardano’s circulating market cap is also on the rise, further supporting the bullish technical structure and market activity of the altcoin. However, despite these positive indicators, caution is warranted as sellers continue to dominate the Spot and Futures markets. CryptoQuant’s 90-day cumulative volume delta data shows an uptick in seller dominance, which could potentially hinder ADA’s breakout if buyers fail to regain control.
Looking ahead, the next few trading sessions will be crucial for ADA. If buying pressure continues to strengthen in line with trading volume, the breakout could extend towards higher resistance levels. However, if sellers maintain dominance, Cardano runs the risk of slipping back into consolidation before solidifying its long-term bullish structure.
In conclusion, while traders are optimistic about ADA’s breakout, caution is advised due to the prevailing selling pressure in the market. It will be important to monitor the balance between buyers and sellers in the coming sessions to gauge the sustainability of ADA’s upward momentum. The impact of social media on mental health
Social media has become an integral part of our daily lives, with billions of people around the world using platforms like Facebook, Instagram, Twitter, and TikTok to connect with others, share their thoughts and experiences, and stay updated on current events. While social media has many benefits, such as facilitating communication and providing a platform for self-expression, there is growing concern about its impact on mental health.
One of the ways in which social media can negatively affect mental health is through the constant comparison to others. On social media, people often present curated versions of their lives, showcasing only the best moments and most flattering angles. This can create an unrealistic standard of perfection that can lead to feelings of inadequacy and low self-esteem in individuals who compare themselves to these idealized images.
Moreover, social media can also contribute to feelings of loneliness and isolation. While it can help people connect with others, it can also lead to a sense of disconnection from real-life relationships. Spending too much time on social media can detract from face-to-face interactions and meaningful connections, leading to feelings of loneliness and social anxiety.
Additionally, the instant gratification and constant validation that social media provides can be addictive, leading to compulsive behavior and a reliance on social media for self-worth. The dopamine hit that comes from likes, comments, and shares can reinforce the need for constant engagement with social media, leading to a cycle of seeking validation online rather than engaging in activities that promote genuine self-esteem and fulfillment.
Furthermore, the prevalence of cyberbullying on social media platforms can have severe consequences for mental health. Being the target of online harassment or hate speech can lead to feelings of worthlessness, depression, and anxiety. The anonymity that social media provides can embolden individuals to engage in behavior that they would not engage in face-to-face, leading to a culture of toxicity and negativity online.
To mitigate the negative impact of social media on mental health, it is essential for individuals to practice mindfulness and set boundaries around their social media use. This can include limiting screen time, unfollowing accounts that trigger negative feelings, and engaging in activities that promote mental well-being, such as exercise, meditation, and spending time with loved ones.
Additionally, social media companies have a responsibility to prioritize the mental health of their users by implementing measures to combat cyberbullying, promote positive online behavior, and provide resources for individuals struggling with mental health issues. By working together, individuals and social media platforms can create a healthier online environment that fosters connection, positivity, and well-being.