Cardano (ADA) price fell 0.5% in the past 24 hours to $0.264293 after a poor weekend for the overall cryptocurrency market. Its current price marks a 14% drop in one week and a 19% drop in the past 30 days, as continued market negativity serves to weigh on financial markets globally.
In light of these losses, ADA owners may be hoping that the altcoin has bottomed out and will recover soon, especially given its fundamentals and ongoing development. However, some analysts suspect the cryptocurrency has even more losses ahead before ending the descent it has been on for much of 2022.
Is it too late to buy Cardano? Crypto Experts Give Their ADA Predictions
Based on technical indicators alone, observers might conclude that ADA has truly bottomed out. In particular, its relative strength index (purple) has slipped below 40 over the past few days, suggesting it is oversold compared to previous moves this year.
ADA’s 30-day moving average (red) has also remained well below its 200-day moving average (blue) throughout 2022, again suggesting that a more positive correction is due sooner or later.
Yet opinions are divided as to whether ADA has ended his suffering. Some analysts outside the ADA community believe that further price declines are possible, both in the short and long term.
Self-proclaimed value investor Mike Alfred remains resolutely bearish on ADA, recently repeating his prediction that it will eventually fall near $0.06 or $0.05.
On the other hand, members of the Cardano ecosystem and the Cardano community continue to assert that ADA fundamentals will ultimately help drive the price higher, especially if the market returns to a more bullish environment.
There might be some truth to this statement, as Cardano has seen constant development and numerous updates throughout the 2022 bear market. Its ecosystem now includes over 1,100 applications and projects built on its network, as well as more than 100 projects already launched.
Interestingly, GitHub has repeatedly shown that Cardano tends to be the layer 1 blockchain with the most daily development activity in terms of commits and changes.
Again, this reinforces the impression that Cardano is growing faster than its peers and that ADA is currently undervalued. The thing is, despite its undervaluation, it is still the ninth largest coin on the market after Cap.
It achieved this position despite having a total value of only $51 million, or just 2% of Ethereum’s TVL. This suggests that ADA has potentially massive gains in store, especially if Cardano manages to attract organic growth.
presale profits
Of course, it can take longer than a few months to realize profits like this, which means traders looking for instant profits should probably look elsewhere.
Despite the slowdown, one particularly fertile area has been pre-sales, with some coins rising by significant percentages after initial listing.
These include Tamadoge (TAMA), which gained up to 1,800% (based on its pre-sale price) in October when it listed on the major OKX exchange. This includes Lucky Block (LBLOCK), which is up 6000% from its retail price of $0.00015.
It can also contain the following three pieces. These tokens are currently holding their respective pre-sales and, given their promising fundamentals and track records, could offer above-average returns once they go public in the new year.
Fight (FGHT)
FightOut (FGHT) runs on Ethereum and is a fitness app that combines real workouts with Web3. Building on the foundation of previous M2E platforms like STEPN, it not only tracks and rewards steps taken, but all types of workouts, including boxing, weightlifting, and yoga. It also offers integrated and physical classes to help users lead a more active lifestyle.
The token sale that started last week has already raised over $2.1 millionwhere you can currently buy 60.06 FGHT tokens for 1 dollar.
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Trade Dash 2 (D2T)
Also based on the Ethereum blockchain, Dash 2 Trade is a trade intelligence platform that provides investors with real-time analytics and social trading data, helping them build stronger portfolios and make more informed decisions.
The sale of its D2T token has Raised over $10 million and is now in the final stage. The company also announced listings on BitMart, Changelly Pro and LBANK Exchange for early 2023, confirming that investors will indeed have the opportunity to benefit from above-market returns.
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Calvary (RIA)
Calvaria (RIA) is a blockchain-based game where players can collect, trade, and battle NFT-based cards. It is a profitable game and it is distinguished by the possibility of playing it without owning cryptocurrencies, which could make it accessible to a wider audience.
RIA will be used within the ecosystem for purchases and staking of in-game items, making it a strong use case. The token’s presale raised just over $2.4 million and is currently in its fifth and final phase.
Visit Calvary now