- ADA’s price dropped by more than 1.9% in the last 24 hours.
- The chances of ADA’s price remaining in a consolidation phase were high.
Cardano’s [ADA] price did witness a promising uptrend last week as its chart turned green. However, after reaching its highest point last week on the 30th of January, its price started to go down.
If the latest data is to be considered, investors might not be able to see major price upticks anytime soon.
What is Cardano up to?
After a good start, the ADA’s price fell, as it only managed to move up by 2% in the last seven days. In fact, its daily chart turned red, as according to CoinMarketCap, Cardano’s value dropped by 1.9%.
At the time of writing, ADA was trading at $0.5078 with a market capitalization of over $17.9 billion, making it the eighth-largest crypto.
The price trend might continue for some time, as ADA was acting interestingly. Ali, a popular crypto analyst, recently posted a tweet revealing that ADA was mirroring its late 2020 price behavior.
Should the patterns align and #Cardano mirrors its late 2020 price behavior, we can anticipate $ADA to remain in a consolidation phase until April 2024, setting the stage for its next bull rally! pic.twitter.com/xEKu1LQRRo
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