Analysts Revealed: “Community Is Very Pessimistic About This Altcoin, But the Price Moves Contrary to the Community’s Expectations”

Cryptocurrency analysis firm Santiment has published a remarkable report on Cardano (ADA).

According to the company, the generally optimistic Cardano community has been showing a more pessimistic outlook lately.

According to Santiment data, ADA saw its lowest sentiment in five months, while the cryptocurrency’s price increased by 5% during the same period.

The analysis included the following statements:

The Cardano community has become increasingly pessimistic after three weeks of decline. For patient investors and those who bought on dips, a continuation of this trend could be a positive sign, as prices often move against the prevailing market expectations. When smaller investors sell out of impatience and frustration, the larger investors accumulate, pushing prices higher.

At the time of writing, Cardano is trading at $0.8101, up 3.64% on the day and 73.86% below its peak price of $3.10 reached on September 2, 2021.

ADA founder Charles Hoskinson recently said in a statement that he wants to see Cardano in a better position than Ethereum.

*This is not investment advice.

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