- A significant RSI reset has been seen on Cardano.
- Cardano is up 17.75% in the last 24 hours.
- Crypto proponents however think altcoins will hit new lows.
A recent post on Twitter by a crypto analyst mentions a significant RSI reset on Cardano (ADA). This is also consistent with earlier forecasts on Cardano that projected the hike. According to the Twitter post, other altcoins are doing the exact same thing.
Therefore, experts think it won’t be too much longer before the market sees the altcoins hitting new lows once again. According to the experts, It looks likely that the market will see some serious downside pressure in the crypto markets in the coming days as bears take advantage of this opportunity to push prices lower.
Many investors will be keeping a careful eye on the markets to see how they react, and many of them are holding out hope that the bottom won’t be too low. Crypto proponents claim that the markets have been experiencing a great deal of volatility over the course of the last several months. Hence, this makes it hard to forecast the direction in which the markets will next move.
Amid all this, recent projections that supported Cardano’s reset probability should also be noted.
For example, Jason Appleton, also known as The Crypto Crow, predicted that the crypto market is going to have a huge market reset and that Cardano is going to accelerate in the near future. Appleton added:
I don’t even think the world has quite grasped yet what the capabilities of Cardano are being built for and some of its overall mission.
At press time, Cardano was trading at $0.325913 with a 24-hour trading volume of $866 million. Cardano is up by 17.75% in the last 24 hours. SHIB ranks number 8 in the broader market, with a live market cap of $11 billion according to Coinmarketcap data.