Source: Trade View
Cardano (ADA) price fell 0,5% in the last 24 hours, reaching €0,264293 after a bad weekend for the cryptocurrency market as a whole. Its current price marks a 14% drop in one week and a 19% drop in the last 30 days, as continued market negativity serves to depress financial markets around the world.
Given these losses, ADA holders can expect that the altcoin has bottomed out and should recover soon, especially in light of its fundamentals and continued development. However, some analysts suspect that the cryptocurrency still has more losses in store before ending the decline it has witnessed for much of 2022.
Is it too late to buy Cardano? Crypto experts give their ADA predictions
Based solely on its technical indicators, observers could be forgiven for concluding that the ADA has indeed bottomed out. Notably, its Relative Strength Index (purple) has dipped below 40 over the past day, indicating that it is oversold from earlier moves this year.