[Analysis] "Cardano, retail investor sentiment at five-month low…sign of a rebound"

Suehyeon Lee

Summary

It reported that Cardano (ADA)'s retail investor sentiment hit its lowest level in five months.
It stated that Cardano's price showed a 5% rebound over the same period.
It analyzed that rebounds tended to begin when investor sentiment weakened.

Cardano (ADA)'s retail investor sentiment has turned bearish, but analysts say this may actually be a sign of a rebound.

On the 6th (local time), CoinDesk cited Santiment data, saying, "This week Cardano's bullish-to-bearish mention ratio was 1.5-to-1, its lowest in five months. Interestingly, Cardano's price this week showed a 5% rebound."

The outlet added, "Historically, Cardano rallies tend to begin when retail investor sentiment is at its weakest. In mid-August, the sentiment ratio also fell to 2-to-1 before a strong rebound followed."

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