The whole cryptocurrency market has witnessed a dip over the last few days. As the market dips, it gives more opportunity for another buy low, significantly making investors get a better return when the market recovers.
However, the market bloodbath took a toll on Cardano and other altcoins. According to the data on Coinmarketcap, Cardano had a 12.04% decrease in the last 7 days.
Source: Coinmarketcap
Despite reporting a few reasons Cardano could remain bullish for April, it’s still unclear if the market trend will favor crypto enthusiasts.
According to Tradingview data, Cardano got rejected from a horizontal resistance at $0.4617 while closing on a red. Furthermore, each daily candle has been on a decline since then.
It is important to mention that the Cardano community is hopeful for a positive trend in Cardano’s price that may continue its upward trajectory.
Source: Tradingview
Isn’t Messari’s Report Impressive Enough to Push Cardano Up?
Recent reports highlighted that the platform is dedicated to advancing and growing in the blockchain sector, specifically in improving scalability, ensuring compatibility with virtual machines, and increasing support for programming languages.
Cardano’s trading price was $39.32 at press time, showing a 0.58% rise within the past 24 hours.
Related article: Cardano Foundation Unveils Aiken: A New Platform for Smart Contract Development
