Cardano – Assessing how likely a recovery is

Cardano [ADA] bears sit tight, is recovery a possibility?

An Out of the Money asset is one that would generate a loss if exercised. Furthermore, traders are less likely to exercise such a sale as it would fail to generate any value.To add to the list of sad news, data from the intelligence platform Santiment added to the list of concerning factors. ADA’s development activity witnessed some improvement at the beginning of June. However, the metric witnessed a decline post 9 June and stood at 17.84 at press time.

This indicated that developers weren’t actively contributing to the Cardano network. Furthermore, a look at the weighted sentiment also painted a gloomy picture for the altcoin. At the time of writing, ADA’s weighted sentiment stood at -2.493.also witnessed a steep decline over the past few days. A price drop coupled with a drop in volume indicated that traders weren’t actively engaged in trading the altcoin.

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