Cardano’s RSI was overbought, and liquidation has increased.
Most market indicators also remained bearish on ADA.
Cardano [ADA] had a comfortable week as its price rallied by more than 20%. Though this uptick looked promising, such unprecedented surges are often followed by a certain degree of price correction. In fact, the token was already showing signs of a downtrend.
Are Cardano investors earning profits?
According to CoinMarkatCap, ADA has surged by over 20% in the last seven days, accompanied by a considerable hike in the token’s trading volume. This suggested that Cardano investors were enjoying profits.
However, despite the price hike, the reality seemed to be different.
As per IntoTheBlock’s data, more than 60% of ADA investors were ‘out of money.” This meant that the current price of ADA was lower than its average cost.
If the latest data is to be considered, ADA investors have more reasons to worry as the token might witness a price correction.
#Cardano | The
We współpracy z: https://ambcrypto.com/should-cardano-holders-be-prepared-for-a-price-correction/
