During Tuesday’s U.S. market session, the ADA coin plunged 0.4% to a trading value of $0.36. The slight downtick signals the continuation of a five-month sideways trend and price sustainability above the $0.3 line. However, will the consolidation build sufficient momentum for Cardano price to hit ATH again?
Cardano Price Correction from ATH of $3
The layer-1 cryptocurrency Cardano has witnessed a significant correction trend since hitting its all-time high (ATH) of $3.10 in September 2021. Over the past year, the altcoin lost nearly 88% in value to settle at $0.364, while the market cap plunged by $12.78 billion.
However, the Cardano price has shifted the prevailing downtrend to a sideway, projecting the asset’s sustainability above the $0.2 line. If the buyers plan to utilize the bottom support for reversal, the 4th quarter of the year could be a suitable time.
Historical trends show that the crypto market often witnesses a highlighted investor activity at the end of the year. Gen
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