Is Cardano overvalued? The data says yes, despite record activity
Photo: AMBCrypto
Cardano [ADA] is currently caught in a tug of war. From a technical perspective, ADA posted three months of consecutive gains, pushing ADA close to the $0.30 level. However, the altcoin started October down over 3%. Analysts are now flagging $0.24, which has become a key level for Cardano to watch out for the potential change in the token’s movement. The main question is whether the pullback is a short-term correction or the beginning of a more profound decline. On a fundamental level, Cardano launched the second week of October with fireworks.
Source: AMBCrypto
