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Reading: Analyst: Cardano’s Fall Could Actually Be an Opportunity
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EdaFace Newsfeed > Latest News > Altcoin News > Analyst: Cardano’s Fall Could Actually Be an Opportunity
Altcoin News

Analyst: Cardano’s Fall Could Actually Be an Opportunity

vitalclick
Last updated: October 12, 2024 12:20 am
4 months ago
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Cardano $0.346386(ADA)’s long-standing price declines have reduced crypto investors’ interest in the future of the platform. However, some analysts see this as an opportunity.

Expert OpinionEthereum Comment

Expert Opinion

Ali Martinez put Cardano on his agenda today on the social media platform X. The analyst still seems hopeful, saying that it may be a good time to buy ADA Coin. According to the analyst, current market conditions offer advantages for investors.

ADA is trading at $0.339 at the time of writing. ADA, which ranks 12th in the cryptocurrency market, lost approximately 1% in the last 24 hours and 1.5% in the last month. It has also recorded an 89% decline from its all-time high of $3.09 reached in September 2021.

“Cardano investors seem to be in the depression phase of the market cycle — but it is often said that this is where the opportunities lie. Selling right now may not be ideal; On the contrary, in such a period of pessimism, saving ADA can be profitable.” –Ali Martinez

Ethereum Comment

Martinez, Ethereum $2,410He stated that (ETH) is also in a critical period. He stated that ETH maintaining its support level may indicate a new upward wave in the future. However, he added that if it remains below this level, the price may drop to $1,600.

“If Ethereum holds the support level above $2,300, it could herald a new rally towards $6,000. But if ETH loses this level, the next drop could be to $1,600.” –Ali Martinez

ETH is trading at $2,426 at the time of writing. ETH, which ranks second, decreased by approximately 1% in the last 24 hours and increased by approximately 4% in the last month.

Current price movements of Cardano and Ethereum may require investors to reconsider their strategies in the crypto market. Market fluctuations can have significant effects on the return on investments made at the right time. It may be beneficial for investors to follow the market closely and take into account expert opinions to manage their risks.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.

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