Cardano FOMO Is Around The Corner, New Reports Claim

It’s been revealed that Cardano could be waiting for some bullish moves these days. The FOMO could soon kick in and people could start pouring money into the digital asset soon again.

A leading crypto analytics firm says trader sentiment on Cardano (ADA) isn’t high right now, and this could change soon.

In their latest analysis, Santiment notes Cardano is currently witnessing the highest amount of unique addresses interacting on its network in a year.

“On top of this, sentiment on social platforms has fallen to a 4-month low. When ADA spikes again, FOMO should return quickly.”

Cardano is trading for $0.4446 at the time of writing – this means that the coin is down more than 85% from its all-time high of $3.09, which it hit last September.

According to Santiment, Bitcoin (BTC) is seeing increased social volume relative to altcoins.

“Bitcoin is seeing increased discussion in the latter half of June after the majority of altcoins have dropped 80% or more from their November market cap values. Historically, declining interests in inorganic alt pumps are a positive sign for crypto.”

Thye latest re[opr6s reveal that the veteran crypto trader Tone Vays warns that the recent price action of Bitcoin (BTC) is not encouraging.

In a new video, Vays said that technical indicators suggest Bitcoin could be in trouble.

He stated the following:

“This is an ugly-looking candle. Everything is starting to look nasty with a new low close. A new low close on a weekly level is very bad. Weekly swing low, lower than last week’s low, is also very bad.”

He also said that the Moving Average Convergence Divergence (MACD), which follows the momentum of two moving averages.

“As you can see, the MACD is very ugly.” Stay tuned for more news and make sure to check out the crypto market.