Cardano(ADA/USDT) Price Projections for 2023The crypto space is witnessing a minute roller coaster ride, with the price undergoing small ups and downs. Besides some of the prices of the tokens like Cardano remained plateaued with an equal brawl between the bulls and the bears. However, the stagnant trend is expected to vanish very soon as the fractal represented a revival of a bullish trend very soon.
Over the past week, the price of ADA fell precipitously, experiencing a double-digit decline of more than 14%. With the drop, sharks increased their accumulation, which spiked to levels not seen since June 2021.
Besides the social dominance of the token has also raised significantly, immediately after the FTX debacle. The levels soared from the lows of around 0.55% during the mid of November to as high as 1.63% by the end.
Additionally, the total weighted sentiments which combine all the positive and negative mentions and compare with the frequency over time also raised very high. This indicates that the market participants are bullish on the asset and hence preparing for a larger move at the earliest.
Besides, the dormant tokens which were not been moved in the past 3 years were moved during the same time marking a gigantic move incoming very soon. The ADA price now appears to be in a decisive phase where-in it may either rebound from the current levels or else experience a minor pullback to test the multi-year trend line and ignite a rebound towards new highs.
