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Cardano Slides Near Oversold Status, Analyst Still Bullish -Breaking

by Mike Robinson

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Cardano slides to near oversold status, analyst still bullish
  • CoinGecko still ranks it among the top 10 crypto assets.
  • In the coming days, ADA could be considered oversold.

Cardano (ADA), continues to be one the most popular crypto assets. Its technology and large market capitalization by its supporters all over the globe are what make it so popular. However, these past few days, Cardano was hit by the market’s wild swing, which is common in the crypto world. As a result of the price of the crypto’s plunge, FUD ensued among its investors.

This made Dan Gambardello, the founder of CryptoCapitalVenture.io react in a tweet post:

Dan Gambardello stated in a tweet that Cardano could be oversold very soon. “Cardano is approaching oversold on the weekly at levels it was at in the bear market low of 2018. After a 50% drop, the $ADA now stands at $1.50 instead of.02. It’s crazy to me that some are choosing now to become bearish on $ADA, he said.”

The tweet gathered different opinions from the Twitter (NYSE:) community, some agreed while others didn’t. This post has been retweeted more than 170 times and received almost 1800 likes. The number of such retweets continues to rise over time.

Cardano continues to be one the most important virtual assets in crypto. ADA is one of the top ten cryptocurrency assets on CoinGecko. Cardano has a current market cap of over $50 billion and trades at an acceptable price of $1.58.

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