Cardano Bearish Trend: An Opportunity to Buy or Not?

Decentralized platform Cardano remains to be the hottest topic in the crypto space. This is because of the never-ending development that the network has been doing over the years. These technology upgrades include DB layer renovation in Cardano-wallet and designing a Cardano-js-sdk MV, to name a few.

Despite these efforts, the Cardano network faces a price decline. This is proof that no one can totally defy the wild volatility of the market.

As seen in the chart above, Cardano suffered a six-month straight market dip. This recorded a decline rate of a decline rate of -69% from its high price of $3 in September 2021 to its current position. Indeed, this position could spread FUD among its investors in the network. 

However, this trend of the crypto also sparks an opportunity for other seasoned traders and investors in the market. In detail, this position of Cardano in the market can be a chance for its fans to mass adopt the crypto while it is still at its low. It is like the famous crypto saying, buy low and sell high.

Based on the chart above, the MACD of ADA has successfully performed a bullish crossover against the signal indicator, an uptrend position. If this trend continues, there might be a big chance that the price of ADA could keep advancing until it breaks its $1 resistance level. If it does, all the users that bought the coin at its lowest price will jump for joy.

So what do you think about Cardano’s market position? Is it now the time to buy, sell or hold the crypto?

At the time of writing, Cardano trades at a strategic price of $.95 with a huge market cap of over $30 billion. These figures made Cardano’s market position nowadays possible.

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