Price Analysis

Will Cardano Emerge From Its Shadows By The End Of November?

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Highlights

    Cardano’s price continues to move along the narrow range, while the analyst enlightens his views over the asset.

    Cardano is all set to witness two major events, which could help it break through the barriers.

The traders and investors from the crypto street are eagerly waiting for Cardano to rise above the odds and reclaim its lost gains. The digital asset seems to have lost its pace, ever since its previous upgrade. Cardano has been following a sluggish track, portraying narrow price movements on the charts. 

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However, traders have been optimistic about finding light at the end of the tunnel. As two major events are due for the week. Which could act as a cape to ignite the bulls to lead the price higher. Which the network has been eagerly waiting for. 

Did Rivals Leave Cardano In The Dust?

Cardano Price has been one of the lower-performing digital assets in the crypto market. The digital coin has been at a sluggish pace for the past two months. Crypto analyst mentions that ADA has not portrayed significant gains since August. ADA at press time is trading at $1.81, with dips of about 3.8%. While the market cap is at about $58,075,951,173. The intraday trade volumes are at $1,246,840,963.

The digital coin needs to pick up steam, to avoid dipping further. Towards the next support levels of $1.50 to $1.60. A plummet further could make way for the next support at $1.26. ADA/BTC pair has also been suffering, with the support levels around 2000 to 2500 satoshis

The same holds with DOT and SOL pairs, which have been in a better position. The chart has been interpreting higher-lows. While being in bearish momentum.  Its been about 3-months since the ATH of $3.09 was hit. While other digital coins have risen higher in the meantime.

These Events Could Help ADA Receive Its Due Share!

Traders and investors have been waiting for major events that could act as a catalyst in Cardano’s bullish leg-up. Consecutively, two major events remain around the block, which is scheduled for the week. The first event marks the listing of Cardano on Bitstamp on the 24th of November. Which is Europe’s biggest cryptocurrency exchange by trading volume. 

The other one accounts for, Input-Output hosting the Cardano 360 November edition. Where the event will see announcements of vital developments and news. Which together could bring a bullish outlook for ADA price in the near term.

Collectively, Cardano has been eagerly waiting for its due share of returns, which has been prolonged longer than expectations. The events in the pipeline could turn beneficial for the altcoin, as it would need a major push coming from the bull’s end. To reclaim the lost gains. Netizens are contemplating ADA price to rise by 25 to 30% with the commencement of the events.   

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Delma Wilson

Delma is a B2B Content Marketer, Consultant, Blogger in the field of Blockchain, and Cryptocurrency. In her spare time, she loves to blog, play badminton and watch out ted talks. She likes pets and shares her free time with NGO.

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