Sentiment in the Cardano community has hit a record low, but favorable indicators and rising prices offer hope for recovery.
Negative Sentiment in the Cardano Community
According to analysts, the Cardano community, typically optimistic, has turned bearish. The ratio of positive to negative comments has dropped to 1.5:1, down from over 12:1 in early August. This indicates that many small investors have begun to sell off their assets after three weeks of decline. Analyst Santiment noted in a tweet: *‘Cardano has quietly seen its community, usually optimistic, begin to turn bearish.’*
Technical Analysis and Predictions for Cardano
Chart patterns also indicate interesting dynamics for Cardano. Independent analyst Quantum Ascend pointed out that ADA has been moving within a long-term technical channel, positioned at a critical zone at the Fibonacci 0.382 level around $0.82. This could imply either intensified decline or confirmed recovery. Another analyst, Crypto King, predicts Cardano could surpass the psychological barrier of $1, targeting $1.20 and $1.40.
Key Information About Cardano
Key metrics regarding Cardano include: - ADA gained 42% over 60 days and 25% over 90 days. - The asset recently bounced from $0.78 to $0.819. - Cardano is still 73% below its all-time high of $3.10 achieved in September 2021. - The network processed $5.3 billion in transactions in one week.
The current situation of Cardano appears to be at a crossroads. While cautious investors watch closely, bolder ones are already betting on a potential recovery of the asset.
