Cardano (ADA) may be the most underwhelming performer among all crypto majors this year. ADA had just fallen back to base after declining from $0.30, making us question where it heads next.
Due to the recent panic, The Hideaways (HDWY) welcomes an expected influx in demand for its $100,000 prize draw to celebrate the success of its presale event ending on December 31.
Cardano (ADA) Buying Sentiment Falls
It looks like we will not be seeing a tangible recovery from Cardano (ADA) this year – a disappointment for many analysts who put the token at the top of their buy recommendation list for 2022.
Cardano (ADA)’s relative strength index bottomed at $26.72, an oversold territory. This is a level it had not visited since October, which explains why there it caused panic among investors.
Unlike The Hideaways (HDWY) which received a positive long-term forecast from analysts, experts are encouraging holders to dump their remaining ADA. The price continues to record lower lows, bottoming at $0.26 in the latest charts.
Cardano (ADA) fell from the $0.30 zone on December 16. The token continued to trade sideways from there as the buying sentiment declined due to a lack of fundamental strength and weak crypto market performance in the backdrop.
Cardano (ADA) Price Forecast and Updates
Cardano (ADA) buyers have to double down on their defense to protect the $0.25 level. Failure to gain momentum at this zone could send the price to $0.20 or lower.
This is the weakest ADA has ever been this year. The tokens started the year strong at $1.30 apiece.
Aside from the extended crypto winter, Cardano (ADA) is also facing tough competition for investor attention against newer and better projects like The Hideaways (HDWY).
Amid the recent retracement, the network’s founder Charles Hoskinson addressed his ongoing fallout against the Ripple community. Hoskinson said he will never comment on any Ripple-related issues again.
The Hideaways (HDWY): The Bear Market Saver
The Hideaways (HDWY) will be Cardano (ADA)’s savior in this challenging bear market.
The Hideaways (HDWY) has stability like no other, thanks to its real estate backing. It is the first to see the underlying potential in the trillion-dollar luxury real estate project.
Through selling NFTs backed by real-world assets, investors are guaranteed their money is stable regardless of what happens in the broader crypto landscape. Sudden crashes like Terra Luna and FTX taught us we could only rely on utility-based cryptocurrencies.
Due to its strong real estate ties, The Hideaways (HDWY) is forecasted to hit $1 by the first quarter of 2023. If you buy it at a current price of $0.10, you will be up with gains you can only imagine throughout your investing career.
Don’t miss your chance:
Website: https://www.thehideaways.io
Pre-Sale: https://ticket.thehideaways.io/register
Telegram: https://t.me/thehideawayscrypto
Twitter: https://twitter.com/hdwycrypto
Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
Source: https://cryptodaily.co.uk/2022/12/investors-are-distancing-away-from-cardano-ada-after-the-price-falls-below-critical-level