{"id":631613,"date":"2024-07-25T20:00:37","date_gmt":"2024-07-25T20:00:37","guid":{"rendered":"https:\/\/ktsl888.com\/?p=631613"},"modified":"2024-07-25T15:35:43","modified_gmt":"2024-07-25T15:35:43","slug":"cardano-down-sellers-unrelenting-best-time-to-buy-ada","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/cardano\/cardano-down-sellers-unrelenting-best-time-to-buy-ada\/","title":{"rendered":"Cardano Down 50% In 4 Months: Sellers Unrelenting, Best Time To Buy ADA?"},"content":{"rendered":"

Cardano has been under pressure and selling off in the past four months. From the ADAUSDT daily chart, it is evident that bears have been in control. After peaking in March, prices plunged by as much as 60% before finding support in mid-July. <\/span><\/p>\n

Since then, ADA has recovered slightly, but bears have not relentred, especially this week. So far, ADA is still 50% after the spike in March. <\/span>This set of conditions could explain traders’ bearish stance on multiple perpetual trading platforms like Binance and OKX. <\/span><\/p>\n

The slip in ADA prices and the alignment of the trend to be bearish from March explain why the funding rate is negative and continues to increase.<\/span><\/p>\n

Time To Buy ADA Despite Extremely High Negative Funding Rates?<\/span><\/h2>\n

Even so, not everyone is extremely bearish. Santiment analysts <\/span>note<\/span><\/a> that despite this state of affairs, ADA prices could, if anything, recover unexpectedly. They explained that the recent spike in negative funding rates, pointing to heightened selling activity, could offer a contrarian opportunity for aggressive traders.<\/span><\/p>\n

Related Reading: End Of The Road? Shiba Inu\u2019s Shibarium Sees Massive 80.3% Crash In Active Accounts<\/a><\/div>\n

Historically, Santiment analysts explained that prices tend to recover sharply in the sessions ahead whenever an asset is extremely sold, as is the case with ADA. Rapidly expanding prices tend to trigger a short squeeze, forcing sellers to buy at a higher price and fanning the uptrend.<\/span><\/p>\n

\"ADA
ADA is oversold and may recover | Source: @santimentfeed via X<\/figcaption><\/figure>\n

Nonetheless, this is not always the case, and this contrarian strategy should be taken cautiously. When a given asset is perceived as “extremely oversold,” prices can often dip even as analysts expect a recovery. <\/span><\/p>\n

\"Cardano<\/a>
Cardano price trending downward on the daily chart | Source: ADAUSDT on Binance, TradingView<\/a><\/figcaption><\/figure>\n

This may mean traders are unconvinced that the asset has what it takes to recover in the wave of intense selling pressure. In this case, traders have to stay safe and align with the primary trend\u2014bearish.<\/span><\/p>\n

Cardano Whales Staying Away Ahead Of The Chang Hard Fork<\/span><\/h2>\n

So far, parallel data from IntoTheBlock <\/span>points<\/span><\/a> to waning investor confidence. According to data, there has been a drop in whale inflow, a dent to the expected optimism. Still, this can be attributed to portfolio rebalancing that might impact inflows, among other factors.<\/span><\/p>\n

\"ADA
ADA whale flow | Source: IntoTheBlock<\/figcaption><\/figure>\n

It remains to be seen how ADA will perform in the coming days. The Cardano development team is preparing for the Chang hard fork, which is set to conclude by the end of July. <\/span><\/p>\n

Related Reading: Could Bitcoin Soar To $100,000 With Trump Back In The White House?<\/a><\/div>\n

This upgrade will decentralize the smart contracts platform by introducing elected delegate representatives tasked with shaping the Cardano constitution. The successful implementation of Chang will usher in the final development phase of Cardano, Voltaire<\/a>. In turn, this effectively decentralized the network, similar to Ethereum.<\/span><\/p>\n

Feature image from iStock, chart from TradingView<\/div>\n","protected":false},"excerpt":{"rendered":"

Cardano has been under pressure and selling off in the past four months. From the ADAUSDT daily chart, it is evident that bears have been in control. After peaking in March, prices plunged by as much as 60% before finding support in mid-July. Since then, ADA has recovered slightly, but bears have not relentred, especially this week. So far, ADA is still 50% after the spike in March. This set of conditions could explain traders’ bearish stance on multiple perpetual trading platforms like Binance and OKX. The slip in ADA prices and the alignment of the trend to be bearish from March explain why the funding rate is negative and continues to increase. Time To Buy ADA Despite Extremely High Negative Funding Rates? Even so, not everyone is extremely bearish. Santiment analysts note that despite this state of affairs, ADA prices could, if anything, recover unexpectedly. They explained that the recent spike in negative funding rates, pointing to heightened selling activity, could offer a contrarian opportunity for aggressive traders. Related Reading: End Of The Road? Shiba Inu\u2019s Shibarium Sees Massive 80.3% Crash In Active Accounts Historically, Santiment analysts explained that prices tend to recover sharply in the sessions ahead whenever an asset is extremely sold, as is the case with ADA. Rapidly expanding prices tend to trigger a short squeeze, forcing sellers to buy at a higher price and fanning the uptrend. Nonetheless, this is not always the case, and this contrarian strategy should be taken cautiously. When a given asset is perceived as “extremely oversold,” prices can often dip even as analysts expect a recovery. This may mean traders are unconvinced that the asset has what it takes to recover in the wave of intense selling pressure. In this case, traders have to stay safe and align with the primary trend\u2014bearish. Cardano Whales Staying Away Ahead Of The Chang Hard Fork So far, parallel data from IntoTheBlock points to waning investor confidence. According to data, there has been a drop in whale inflow, a dent to the expected optimism. Still, this can be attributed to portfolio rebalancing that might impact inflows, among other factors. It remains to be seen how ADA will perform in the coming days. The Cardano development team is preparing for the Chang hard fork, which is set to conclude by the end of July. Related Reading: Could Bitcoin Soar To $100,000 With Trump Back In The White House? This upgrade will decentralize the smart contracts platform by introducing elected delegate representatives tasked with shaping the Cardano constitution. The successful implementation of Chang will usher in the final development phase of Cardano, Voltaire. In turn, this effectively decentralized the network, similar to Ethereum. Feature image from iStock, chart from TradingView<\/p>\n","protected":false},"author":384,"featured_media":601720,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16896],"tags":[12333,79508,12332,12329,92765,82833],"class_list":["post-631613","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cardano","tag-ada","tag-adausdt","tag-cardano","tag-cardano-price","tag-chang-hard-fork","tag-voltaire"],"acf":[],"yoast_head":"\nCardano Down 50% In 4 Months: Sellers Unrelenting, Best Time To Buy ADA?<\/title>\n<meta name=\"description\" content=\"Cardano is under pressure as ADA slips 50% from March highs. 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His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature. When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills. 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