{"id":506138,"date":"2022-10-13T18:40:55","date_gmt":"2022-10-13T18:40:55","guid":{"rendered":"https:\/\/ktsl888.com\/?p=506138"},"modified":"2022-10-13T16:43:22","modified_gmt":"2022-10-13T16:43:22","slug":"cardano-drops-to-lowest-level-in-last-7-days","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/cardano-drops-to-lowest-level-in-last-7-days\/","title":{"rendered":"Cardano Drops To Lowest Level In Last 7 Days &#8211; ADA Bracing For Further Decline?"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Cardano, the 8<\/span><span style=\"font-weight: 400\">th<\/span><span style=\"font-weight: 400\"> largest cryptocurrency in terms of market capitalization, traded for $0.38 at one point today to drop to the lowest it\u2019s been for the past 21 months.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">ADA just recorded its 2022 all-time low of $0.36<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Cardano may be on another bearish run all the way to the forecasted $0.25 mark<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">IOG leans on strong fundamentals to have a bullish rally.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">The downward slide continues for ADA, as its price declined further. As of this writing, data from <\/span><a href=\"https:\/\/www.coingecko.com\/en\/coins\/cardano\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">Coingecko<\/span><\/a><span style=\"font-weight: 400\"> shows the asset is trading at $0.36.<\/span><\/p>\n<p><span style=\"font-weight: 400\">It is now down by 6.9% for the past 24 hours and has lost 14.8% of its value for the last week. This development, however, is no longer news.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Veteran market analyst Peter Brandt tweeted last week that ADA, following sell off since the completion of the Vasil hardfork on the Cardano blockchain in September, will be on a decline all the way to $0.25.<\/span><\/p>\n<div class=\"related-reading-shortcode\">\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/terra-coin-price-balloons-30\/\"> Terra Coin Price Balloons 30% \u2013 But Can LUNA Reach Higher Terrain?<\/a><\/div>\n<\/div>\n<h2><b>Cardano Hits A 2022 All-Time Low<\/b><\/h2>\n<p><span style=\"font-weight: 400\">The situation was already bleak for Cardano when it plunged all the way to $0.38 earlier today. But that was shattered when ADA fell to its new 2022 all-time low of $0.36.<\/span><\/p>\n<p><span style=\"font-weight: 400\">It was unfortunate that the altcoin fell below its short-term wedge pattern, pushing itself to a bearish run. Had it moved up in its pattern, the digital asset might have made a recovery from the slaughter of the crypto winter.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Cardano was able to move below its Relative Strength Index (RSI) oversold zone but that action was only brief and bears encountered resistance as traders appeared to have bought the dip.<\/span><\/p>\n<p><span style=\"font-weight: 400\">There\u2019s more bad news for ADA, as demand is not yet back to a sustainable level, primarily because there are expectations of more downward movement due to the current harsh market conditions.<\/span><\/p>\n<h2><b>How Bumpy Will The Road Get For ADA?<\/b><\/h2>\n<p><span style=\"font-weight: 400\">The cryptocurrency might be down right now and is among the few ones who have managed to attain a record 2022 all-time low, but that doesn\u2019t mean the end for the ADA.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Cardano is leaning on its strong fundamentals to mount a comeback and be on the running for a bullish trading momentum.<\/span><\/p>\n<p><span style=\"font-weight: 400\">According to the weekly development report released by Input Output Global (IOG), 1,117 projects are currently building on the Cardano Blockchain.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Moreover, there is an observed remarkable increase in new users of decentralized apps (dApps) that are built on the network of the \u201cEthereum killer.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400\">In terms of users and value, IOG said the non-fungible token of Cardano is also gaining more traction. In April this year, the network\u2019s NFT trading volume was around $27 million.<\/span><\/p>\n<p><span style=\"font-weight: 400\">During a July interview, Input Output Global CEO Charles Hoskinson said:<\/span><\/p>\n<blockquote><p><strong><i>\u201c<\/i>One surprising area of growth on Cardano is in the NFT space. About 40% of all the applications that are being deployed are NFT-related\u2026 About $270 million a month in NFT volume. So, $3 billion a year.\u201d\u00a0<\/strong><\/p><\/blockquote>\n<div class=\"related-reading-shortcode\">\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/huobi-token-spikes-nearly-30-in-last-24-hours\/\"> Huobi Token Spikes Nearly 30% In Last 24 Hours As HT Seen Rising On Revival Plans<\/a><\/div>\n<\/div>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/fm8e67nc\/\" width=\"1834\" height=\"875\"><\/p>\n<pre style=\"text-align: center\">Crypto total market cap at $852 billion on the daily chart | Featured image from Latest Finance News, \r\nSource: <a href=\"https:\/\/www.tradingview.com\/chart\/ajrdy9Lf\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a>\r\n\r\nDisclaimer: The analysis represents the author's personal views and should not be construed as investment advice.<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Cardano, the 8th largest cryptocurrency in terms of market capitalization, traded for $0.38 at one point today to drop to the lowest it\u2019s been for the past 21 months. ADA just recorded its 2022 all-time low of $0.36 Cardano may be on another bearish run all the way to the forecasted $0.25 mark IOG leans on strong fundamentals to have a bullish rally. The downward slide continues for ADA, as its price declined further. As of this writing, data from Coingecko shows the asset is trading at $0.36. It is now down by 6.9% for the past 24 hours and has lost 14.8% of its value for the last week. This development, however, is no longer news. Veteran market analyst Peter Brandt tweeted last week that ADA, following sell off since the completion of the Vasil hardfork on the Cardano blockchain in September, will be on a decline all the way to $0.25. Related Reading: Terra Coin Price Balloons 30% \u2013 But Can LUNA Reach Higher Terrain? Cardano Hits A 2022 All-Time Low The situation was already bleak for Cardano when it plunged all the way to $0.38 earlier today. But that was shattered when ADA fell to its new 2022 all-time low of $0.36. It was unfortunate that the altcoin fell below its short-term wedge pattern, pushing itself to a bearish run. Had it moved up in its pattern, the digital asset might have made a recovery from the slaughter of the crypto winter. Cardano was able to move below its Relative Strength Index (RSI) oversold zone but that action was only brief and bears encountered resistance as traders appeared to have bought the dip. There\u2019s more bad news for ADA, as demand is not yet back to a sustainable level, primarily because there are expectations of more downward movement due to the current harsh market conditions. How Bumpy Will The Road Get For ADA? The cryptocurrency might be down right now and is among the few ones who have managed to attain a record 2022 all-time low, but that doesn\u2019t mean the end for the ADA. Cardano is leaning on its strong fundamentals to mount a comeback and be on the running for a bullish trading momentum. According to the weekly development report released by Input Output Global (IOG), 1,117 projects are currently building on the Cardano Blockchain. Moreover, there is an observed remarkable increase in new users of decentralized apps (dApps) that are built on the network of the \u201cEthereum killer.\u201d In terms of users and value, IOG said the non-fungible token of Cardano is also gaining more traction. In April this year, the network\u2019s NFT trading volume was around $27 million. During a July interview, Input Output Global CEO Charles Hoskinson said: \u201cOne surprising area of growth on Cardano is in the NFT space. About 40% of all the applications that are being deployed are NFT-related\u2026 About $270 million a month in NFT volume. So, $3 billion a year.\u201d\u00a0 Related Reading: Huobi Token Spikes Nearly 30% In Last 24 Hours As HT Seen Rising On Revival Plans Crypto total market cap at $852 billion on the daily chart | Featured image from Latest Finance News, Source: TradingView.com Disclaimer: The analysis represents the author&#8217;s personal views and should not be construed as investment advice.<\/p>\n","protected":false},"author":557,"featured_media":506140,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12436,3],"tags":[12333,428,1119,1144,12332,8323,1946,8686],"class_list":["post-506138","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ai-and-tech","category-news","tag-ada","tag-bitcoin","tag-btc","tag-btcusd","tag-cardano","tag-eth","tag-ethereum","tag-ethusd"],"acf":[],"yoast_head":"\n<title>Cardano Drops To Its Lowest In Last 7 Days - More Slide For ADA?<\/title>\n<meta name=\"description\" content=\"Cardano, the 8th largest cryptocurrency by market cap, traded for $0.38 at one point on Thursday to retreat to the lowest in as many weeks.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ktsl888.com\/news\/cardano-drops-to-lowest-level-in-last-7-days\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cardano Drops To Its Lowest In Last 7 Days - More Slide For ADA?\" \/>\n<meta property=\"og:description\" content=\"Cardano, the 8th largest cryptocurrency by market cap, traded for $0.38 at one point on Thursday to retreat to the lowest in as many weeks.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ktsl888.com\/news\/cardano-drops-to-lowest-level-in-last-7-days\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2022-10-13T18:40:55+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-10-13T16:43:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/10\/Cardano-2.png\" \/>\n\t<meta property=\"og:image:width\" content=\"716\" \/>\n\t<meta property=\"og:image:height\" content=\"435\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Christian Encila\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Christian Encila\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/ktsl888.com\/news\/cardano-drops-to-lowest-level-in-last-7-days\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/ktsl888.com\/news\/cardano-drops-to-lowest-level-in-last-7-days\/\"},\"author\":{\"name\":\"Christian Encila\",\"@id\":\"https:\/\/ktsl888.com\/#\/schema\/person\/a2d6e9b600c0ed5252bbfc4170c3dd80\"},\"headline\":\"Cardano Drops To Lowest Level In Last 7 Days &#8211; 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. 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