Cardano (ADA) has been consolidating at relatively low levels, especially compared to major crypto players like Bitcoin and Binance Coin, and it appears to be in an accumulation phase rather than still undergoing heavy declines. Currently trading near November 2023 levels, ADA’s price structure indicates that most of the downward correction—around 80-90%—has already happened.
For large holders, selling now could be a high-risk move, especially as the asset is in a low-price accumulation zone. With a potential further decline in Bitcoin or a general market downturn, ADA might see additional dips, but these would likely be short-lived, followed by a longer recovery phase. The suggestion for big holders is to adopt an accumulation mindset and aim for long-term gains. Holding and buying on dips seems to be the more favorable approach here, aiming for sustained growth into the next market uptrend.
The recommended strategy would be:
1. Short-term: Expect some consolidation with a slight bearish tendency.
2. Mid-term to Long-term: Anticipate gradual recovery with potential stronger bullish momentum by March 2025.
For anyone already holding ADA, it may be too late to sell; waiting for the expected long-term growth could be more beneficial. However, for buyers looking to add positions, waiting a few days for possible better entry points could pay off as ADA tests remaining support levels from late 2023.
