After a spectacular decline in 2019, Cardano (ADA) has likely bottomed and may soon post a major reversal. Noted cryptocurrency analyst Crypto Loomdart (@loomdart) is waiting for a confirmation at 472 sats to go long.
Cardano holders have been through a lot of pain in 2019. Not only is ADA one of the worst-performing top cryptocurrencies of the year, but also had the steepest drop from its all-time high. Cardano is currently some -96% from its all-time high price point.
However, a reversal may soon be on the horizon—at least, according to note cryptocurrency charter and analyst Crypto Loomdart (@loomdart). On August 31st, he tweeted that he “wouldn’t feel comfortable holding ADA” unless it posted on 4H candles above 472 sats.