Identifying if Cardano [ADA] is still worth buying

ambcrypto.com:

Cardano’s ADA went through quite a challenging and FUD-filled week recently. The cryptocurrency had started gaining some upside after weeks of subdued performance. However, the FUD around a bug found on its testnet weighed heavily on ADA, in addition to the bearish conditions last week.

ADA tanked by roughly 25% during the week as a consequence of the aforementioned factors. While the FUD revolved around some testnet issues, it did not have a direct impact on Cardano’s mainnet. The latter is still on track to launch its next major upgrade named Vasil. However, delay concerns may have also contributed to ADA’s downside.

ADA’s latest downside might turn out to be an opportunity though. This, because it presents an opportunity to buy at a discount, especially after last week’s crash.

Now, is there a chance of more downside? Well, ADA’s price action still has some room for downside before reaching the next support zone.

Source: TradingView

ADA’s $0.46 press time price came on the back of a slight uptick over the last 2 days. In fact, this uptick came as a relief from last week’s sell-off. However, there is still some uncertainty regarding its next move as investors contemplate whether it will resume its downside or achieve bullish recovery.

Imitating whales and institutional investors in times of uncertainty is often a smart idea. ADA’s whale transaction metrics registered significant whale activity in the last 2 days.

There were as many as 43 whale transactions worth more than $100,000 and at least 10 whale transactions worth more than $1 million on Saturday morning.

Source: Santiment

Now, whale transactions did see a significant dip in the last 24 hours. However, the large transactions in the last 2 days occurred after ADA was