Cardano, the market’s fourth-largest cryptocurrency, has had a tumultuous last few weeks, with the alt falling on the charts to correspond with Bitcoin and Ethereum’s depreciation after touching ATHs of its own. Interestingly, a previous article had argued that despite recent ecosystem-centric developments like the launch of the Alonzo testnet, ADA’s fortunes could be tied to how well BTC and ETH do.
On the back of recent gains, however, it would seem that Cardano may be set for more upside on the charts. With or without the cooperation of the world’s largest cryptos.
The Fear & Greed Index is perhaps the best representation of the bearishness prevalent in the larger market. Consider this – Less than 24 hours ago, it had a reading of 20 – Extreme Fear. Similar levels were last consistently seen way back in March – April 2020.
