Cardano (ADA) Ready For Rally Towards $1.50? What Indicators Are Saying

Cardano (ADA) has not been on the best of trends lately. In fact, since the digital asset touched its high above $3 in September 2021, it has been a continuous trend of heartbreak for its holders. Every slight upward recovery has been marked by a deeper dip, sending the cryptocurrency towards new lows each time. With the various market crashes, the asset has now lost about 60% of its all-time high value but the worst seems to be far from over. Cardano (ADA) Has Not Bottomed Yet Even though Cardano (ADA) has dropped below $1, it looks to be that the digital asset is still far from its bottom. It had grown tremendously in the space of a year in 2021, where it started out below $0.20 and ended up above $3. But the digital asset has continued to bleed all of its gains from this time straight into 2022. And once again, it has lost support a the $1 level. Related Reading | Bitcoin Value Remained Stable Around $43,000 An important thing to note for Cardano (ADA) is where the cryptocurrency is currently trading. A look at the charts paints a very bleak short and medium-term picture of the asset. It is trading below every single moving average available, and still remains below its year-to-date average. ADA loses footing at $1 | Source: ADAUSD on TradingView.com It is one of the digital assets with the highest sell pressures now with sell sentiments currently sitting at almost 100%. This in no way spells good news for ADA whi...