CandleFocus

Analyst Says ‘That’s Often Where Opportunities Lie’ As Cardano Lingers in ‘Deep Depression Phase’

Author: Content Editor
The price of Cardano's token (ADA) has been declining, causing some traders to lose enthusiasm. However, one analyst believes this lack of enthusiasm presents an opportunity for investors to buy ADA at a low price. The analyst suggests that accumulating ADA during this period of pessimism could lead to potential gains. ADA is currently trading at $0.339, down nearly 1% in the past 24 hours and more than 1.5% in the past month. It is also down over 89% from its all-time high in September 2021. The analyst also mentions that Ethereum (ETH) is at a crucial point, and if it maintains support above $2,300, it could see a rally towards $6,000. However, if it loses this level, a drop to $1,600 might occur. ETH is currently trading at $2,426, down nearly 1% in the past 24 hours but up almost 4% in the past month.

Related News