Why You Shouldn’t Be Buying Cardano Right Now: Top 3 ADA Rivals to Consider for a Quick 1500% Return
The post Why You Shouldn’t Be Buying Cardano Right Now: Top 3 ADA Rivals to Consider for a Quick 1500% Return appeared on BitcoinEthereumNews.com.
Despite gaining over 15% in the past week, Cardano (ADA) is showing signs of impending losses. Experts advise investors looking to jump on the bullish market mood to stay clear of ADA. Conversely, they recommend having a diverse portfolio containing tokens such as Rexas Finance (RXS), Solana (SOL), and Ripple (XRP). Let’s look at why ADA might not be the best option available right now and why these competitors present better opportunities. Why You Should Not Buy Cardano (ADA)? Although Cardano has long been praised for its creative blockchain advancements, its present market suggests there might be better times to invest. ADA’s price has not recovered from its notable drop from August to early September. Even with recent network upgrades, including the Ouroboros Leios update and Voltaire era’s first hard fork, Cardano still lags. ADA is priced at $0.3695 as of right now, far from its all-time high of $3.09, and investors worry about its future course.The declining interest from prominent investors, sometimes known as “whales,” is one of the leading causes of worry. ADA whale counts have dropped by 18% over the past month, indicating a lack of confidence among essential market participants. Cardano’s most recent price movement has also been limited inside a symmetric triangle pattern with several failed breakout attempts. This points to a bearish attitude, particularly considering the general comeback in the crypto market.Moreover, ADA’s technical indicators—such as its Relative Strength Index (RSI)—show bearish divergence, hence indicating a higher risk of more declines than of a notable comeback. Considering these issues, investors might wish to consider other tokens with more growth potential instead of Cardano. Rexas Finance (RXS): A Rising Star in the Market Offering a unique value proposition, Rexas Finance (RXS) has become one of the most discussed projects in the crypto market. Investors have…
Filed under: News - @ October 2, 2024 12:09 am