Cardano Could Be Extremely Undervalued, According to Santiment

Dec 29,2022
Cardano Could Be Extremely Undervalued, According to Santiment
  • The position of Santimont
  • What's the situation like now?

Smano is still in a complicated situation in the cryptocurrency market. The property cannot be otherwise applied from investors in 2021 and has not been fully redeemed in 2023. Three years of active sales have prompted Cardano to underestimate the use value of Etherum, Solana and other competitors. But does this necessarily mean that ADA will bounce back in 2023?

The position of Santimont

According to the insight online articles of the analysis platform, there are some signs that businesses are becoming more and more exhausted. With every decline in ADA, the number of coins losing money on the Internet is falling, indicating that the selling power on the Internet continues to decline.

In addition, we can see a downward trend in trading volume-one of the strongest fading / reversing data signals seen in the market. With the change of the trend, the double head or empty single gradually loses energy and power, but at this point, the trend is reversed. This could happen in Cardano in 2023, especially if we can see a full recovery in cryptocurrency sales.

However, the full analysis is only based on a number of index values, which do not give you all essential insight and enable us to proudly predict and analyze the trend of ADA in 2023.

What's the situation like now?

Unfortunately, Cardano doesn't seem ready to bounce back because he has fallen to the local bottom again and has not been able to get a driving force after rising 7 per cent in the past four trading days.

It is true that the trading volume of the asset is declining, but it does not necessarily warn us that such trends have dissipated, because this may also be the conclusion of holidays in financial systems around the world. This trend is likely to continue until January 5th.