The crypto market sphere is running at its worst with increasing volatility and unpredictability. Moreover, Bitcoin’s erratic and turbulent nature is continuously deterring down the values of the altcoin like ADA every then and now. this condition will be the same or can further aggravate in the upcoming days as it is estimated that until the end of this year, the volatility is not going to reduce.
From the above 1-day chart, it is understandable that Cardano is currently getting traded at the lowest ranges possible. Its momentum has completely deterred to the downtrend. Since yesterday noon, it is getting traded in the bearish ranges even with no intermediate bullish peep-ups. Yesterday, it traded at a value of 0.0535 USD, and today only, it deterred to as low as 0.0506 USD. So, within one day, Cardano price is declined by 4.65%. The market is so volatile that even in the upcoming days, the persistence of ADA’s bearish ranges is quite obvious. As it is declining down at a fast pace, it lacks effective support levels as well.
Thus, from the above analysis & past data, it is cleared that Cardano is currently having no positive hopes to rise back or holding on to the same. Frequent degradation is expected. So, it is better for the investors not to consider any sort of investment on it currently as it can incur great loses to them.