Cardano price has faced strong downward pressure compared to other cryptocurrencies in the past few weeks.

ADA recently began a fresh decline below the $0.3550 zone and is now down around 15% over the last 30 days.

This lackluster performance has kept many ADA holders in the negative zone, with unrealized losses mounting as the price continues to struggle.

As a result, it is natural that many will continue selling to cut their losses, which in turn could cause the price of ADA to continue falling, at least in the short term.

Analyst says Cardano price is already 80 to 90% corrected.

ADA's current price action is very difficult to handle, especially for long-term holders who continue to hold despite poor performance.

According to an analyst on TradingView, the best way for these ADA holders to approach the ADA price outlook is to continue holding.

This is because the fall is already well advanced and we can say that 80 to 90% of the correction is already gone for this pair.

For perspective, Cardano is currently trading around 56% below its 2024 peak of $0.7742, despite the market widenings seen in September and October.

According to cryptocurrency analyst Alan Santana on TradingView, ADA appears to be consolidating around the same price levels seen in November 2023, showing limited upward momentum.

In comparison, most other major cryptocurrencies like Bitcoin, Solana, and BNB are already on track to retest their 2024 peaks made in Q1.

Interestingly, there is a possibility that Cardano could fall further in the coming months, especially if Bitcoin undergoes a massive correction.

However, as analyst Alan Santana pointed out, Cardano is almost at the end of its corrections.

Therefore, a further drop in ADA price would not be a super strong drop and would only last a few days or at most a few weeks.

Long-Term Sustainable Growth for ADA.

According to Santana, selling ADA now may not be the best move, especially for those who held during the corrections.

This is because prices are already really low for ADA and are already in the accumulation zone.

So, a prudent move would be to focus on the long term and wait until the next bull market kicks into full swing.

Santana’s price projection for ADA suggests that while a slight further dip could occur, it would likely be followed by a gradual recovery from November 2024 to February 2025, with a more significant bullish phase expected to gain momentum in March 2025.

At that point, Santana predicts a potential return for ADA above $0.70, representing a 130% increase from current price levels.

At the time of writing, ADA is trading at $0.3371, having increased by around 1.25% in the last 24 hours.

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