The cryptomarkt has a hard time due to rising geopolitical tensions in the Middle East. Where Bitcoin (BTC) is falling by almost five percent this week, Cardano (ADA) plummets by more than eighteen percent. The ADA Koers has now dropped below $ 0.60, and that is responsible for analysts.
Sales pressure is increasing at Cardano
According to analyst Ayyamann Shrivastava, long -term investors are losing their confidence in Ada. He points to the ‘age consumed’ indicator: an on-chain indicator that shows when old coins are suddenly moved. Such a shift usually means that long -term holders sell their tokens. And that now happens en masse at Cardano.
The Chaikin Money Flow indicator (CMF) also does not look good for a while. This is under zero, which indicates a outflow of capital and a lack of new investors. That is bad news, because without fresh money, a recovery from the Ada course is difficult to imagine.
Ada race forecast: Does the bottom fall away?
Shrivastava emphasizes that the $ 0.60 dollar is crucial. Above that level there was room for a recovery to $ 0.66. But in the meantime, Ada has dropped under that border, causing a further decrease to $ 0.57. That would amount to another five percent loss.
In the longer term, the image is not rosier. Cardano is now at the same level as the beginning of April, when the trade war between the US and China was sharp. At the time, Bitcoin fell to $ 75,000. Now BTC is at $ 104,400, close to its all-time high, while Ada is camping at a local low point.
Source: https://newsbit.nl/hoe-ver-kan-de-cardano-koers-dalen-nu-langetermijnbeleggers-verkopen/
