A quick look at Cardano (ADA) long-term charts paints a picture of a crypto whose selling volumes are in decline. To make things clearer, here is a breakdown of Cardano’s price for the entire year, up to where it is today.
Cardano (ADA) Q1 of 2018
From the charts, it is easy to tell that between January and March, bears were in control of the market. They drove the price from a high of $1.34 to $0.12 in 3 months.
It is clear that in Q1 of 2018, people were panic selling Cardano (ADA) and short sellers made a killing at that time. This is characteristic of all bear markets. The moment the market hits a peak, smart money gets out first, followed by panic selling by the other investors. The exit of smart money is quite evident in Cardano (ADA) in the months of December and January. The sharp price rejection from $1.34 to $0.783 in the first week of January was smart money getting out, having made a killing from the 2017 Bull Run. What followed was panic selling as characterized by the huge drops that happened from the second week of January all the way to the end of March.
ADA Coin Q2 of 2018
By the beginning of Q2, smart money and panic sellers who got in late were off the markets. The up and down movements in Q2 were mainly driven by short-term traders. As traders rode the short-term pullbacks and selloffs, Q2 ended up with a pretty- much undefined chart, a minor bullish pullback that was followed by a dump back to March lows.
Q2 minor bullish correction was also driven by the perception that the market could have hit the bottom, but when it failed to hold, the price dropped again.
Cardano (ADA) Q3 of 2018
The failed pullback of Quarter 2, saw an exit of any bulls left in the market. With uncertainty as to whether the market has hit the bottom or not, bears too were not making any major bets against Cardano (ADA). That’s why Cardano’s Q3 chart was a bearish one, albeit a weak bear.
Not many people were betting on a Cardano further drop, even though bullish sentiment was long gone from the market.
Cardano Q4 of 2018
Up to this point, Cardano’s quarter 4 has been flat. Bears have lost all hope of any further drops. However, there are no bulls in the market yet. Investors just aren’t sure whether it is time to get back in or not.
At this point, it’s mostly smart money that is buying up Cardano in small calculated moves that are meant to avoid any market run-ups. Smart money usually positions itself early, before the crowd starts flocking in and drive up the price. This is probably the best time for smart investors looking for good long-term gains to start trooping into ADA. That’s because this consolidation phase offers investors a good average price, due to the quiet in the market. This consolidation phase could last all the way into Q1 of 2019 but could be followed by another bull run in mid-to-late 2019. It’s all cyclical and will continue to happen for as long as markets exist.
