Cardano Price Analysis: Is It Time to Buy Cardano?

The crypto world is a market that is prone to volatility, and it is not a new story. Cardano is one of the crypto assets in the space that recently experienced the market’s wild swing. In detail, ADA has been down to over -17% in the past seven days. Regardless, the Cardano community is not easily swayed by this price change that ADA encountered recently.

Cardano Price Analysis

Source: TradingView

Based on the graph above, Cardano keeps its position above the Arnaud Legoux Moving Average (ALMA) indicator. This means that Cardano is on the right track and has the chance to increase its position to over $2 in no time. But of course, this might be likely to happen if the investors of the digital asset remain on its side along with the bullish market.

Is It a Good Time to Buy Cardano?

Source: TradingView

The Relative Strength Index (RSI) of the crypto is not overbought nor oversold. In other words, Cardano is in a neutral state. This means that investors and traders might buy, sell and trade the crypto without the fear of any major price reversal. In addition, Cardano is down by over +10% and just like the old saying in the crypto world, buy the dip.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.