Cardano's price has slid down heavily in the past couple of days, marking new lows for the year 2022. The price at the moment continues to consolidate losses as it appears to accumulate strength to break above the resistance zone at $0.26.
But the upcoming Hydra event may boost the price of the ADA coin. Hydra is the next upcoming upgrade of Cardano for layer 2 scalability solution. Though the price of Cardano has not seen a surge in price following the Hydra announcement, as the price continues to decline constantly.
Many investors suggest that this is the best time to invest in Cardano. The Cardano price regardless of being extremely bearish at the moment, appears to be pretty bullish in the long term. Coinpedia earlier made ada price prediction for as high as $0.71 for 2023.
The bearish trend could be only for end of 2022. We can expect a surge in cardano very soon.
Topic: ADA Price 40% Down – Should Be Considered in Portfolio 2023? (Read 119 times)