For 5* heroes, I’d ascend the following:
Black - Even if you had enough tabbards, I’d wait until you had another 5* hero to consider for the final ascention.
Yellow - Ascend Justice. She’s a solid tank, and seems to be the front end for at least some defense teams in the +2500 cup range. She’s a pain in alliance wars, and can be fun in raids. If you’re doing very high-end Titans, you could do Ranvir instead, but Justice is more versatile than him.
Blue - Ascend Thorne, start working on Isarnia. After the recent buff, Thorne is pretty solid. He’s still tough, but his special now deals significant damage, especially following Grimm.
Green - I’d start working on either Elkanen or Kadilen and bring them to 2.60. That takes no unfarmable mats, and will give you a good sense of their value / play style. But I’d definitely consider waiting on Lianna or a lucky Atlantis coin pull for a green 5* before even bringing a green 5* to even 3.70.
Red - You’re a bit spoiled for choice here. I think Zimkitty is just too useful all around for you to pass up ascending her to the max. But you could easily decide that you want to use Mitsuko as your main defense tank and level her up as well. You’re half way to the next set of 4* ascention mats, and by not ascending a Purple or Green 5*, you still have enough Demascus blades to ascend a second red when you get the next few rings. I’m a bit down on Marjana myself, but I know many people swear by her. Aslar is strong as well, but if you’re ascending Justice and eventually Isarnia, that’s probably enough 4* mats spent on slow AoE heroes.
Regarding your 4* heroes, I’d ascend the following:
Purple - I’d ascend 2 4* heroes, and save the last 4 trap tools for a future hero you might pull (e.g. Proteus or Kage from Atlantis coins) :
- Rigard: He’s an all around staple you won’t regret ascending.
- Ameonna: She’s a bit weird, but she hits like a truck and can be great on Titans and Raids if you use her right. Jabbar might also be an option, but I’m not familiar enough with him to really comment.
Yellow - Pretty much everything ascended here, just wait for more heroes.
Blue - Fortunately you’ve got a truck load of Warm Capes, so you can use 4 to ascend Thorne, save 8 to max Isarnia, and still have enough to ascend Triton, who’s a good blue sniper, and hold a set for a future hero. You could also think about Sonya, but I think the general consensus is that Triton is stronger than her and you’ve already got him at 3.60.
Green - You’ve got lots of shields, so you may as well max at least Melandor, who’s a staple healer and gives you some additional dispelling. You’ve got the sheilds to max Skittle as well, but I personally find her really unimpressive. I’d save your gems for pulls at Grimm Forest in hopes of getting Hansel.
Red - Depending on what you want to do with your 5* reds, you may be really tight on mats here. I’d consider maxing Colen–he’s been a key player on my defense team, which keeps me in the 2400-2500 range, and it’s super satisfying to have him revive and throw fireballs at everyone. But using them to max Zimkitty and one of Mitsuko/Marjana and saving whatever’s left over could be smart as well.
Anyway, ymmv, but those are my thoughts.