Source : coinquora.com
- Cardano price has dropped from $3 on 2nd Sep 2021 to $1.59.
- Cardano has now fallen over 50% from it’s all-time high.
Over the past three months, the price of Cardano (ADA) has consistently declined. At the time of writing, Cardano price has dropped from $3 on 2nd Sep 2021 to $1.59, which is an almost 50% drop in value.
As of September 3rd, Cardano has been falling steadily. Only one of the past thirteen weekly candlesticks has closed above its open.
The sole bullish candlestick moved by 20%, only to retrace most of these gains to settle by only 3% that week. Cardano has now fallen over 50% from it’s all-time high and is ready to rise again.
According to Gann’s analysis, Gann’s 90-day cycle is the most critical inner year cycle. Gann wrote that any instrument that continues to face persistent selling pressure over a 90-day period is likely to find a low and reverse direction. Cardano is positioned perfectly for a bullish reversal.
At this price point, it would have been impossible to schedule the 90-day cycle. Cardano has reached a swing low of $1.41, directly above the 2021 Volume Point Of Control at $1.38. A bullish reversal is therefore perfectly positioned for the coming months.
With the upcoming development and changes within the ADA platform. The price of ADA is expected to reach great heights in the coming days.