Will the ADA Token Repeat Its Bullish July Price History?

The first month of summer cannot be considered outstanding based on the green bars of the crypto asset price charts.

The first month of summer was not outstanding, to say the least, judging by the green bars on crypto asset price charts. By the end of June, the market capitalization of the entire digital asset market had dropped by more than 8%, which translates to almost $200 billion.

What July has in store for cryptocurrency enthusiasts is impossible to predict with any certainty. However, the price history can give us some clues.

For example, CryptoRank's price history data for ADA, the native token of the Cardano blockchain, predicts growth rather than decline. According to the data, the average return on investment in Cardano tokens in July is 9%, while the median is a slightly more modest but still positive 2.93%.

Historical trends have been on Cardano (ADA)'s side since 2018 itself. Back then, the ADA token recorded a gain of almost 3% in July. Moreover, and to date, ADA has only twice failed to close the second month of summer in the black.

Clearly, one cannot take anything for granted in the crypto space. However, price history can provide some guidance for such a chaotic market. With each passing month, the statistical sample for Cardano has become more extensive, which means that predictions based on historical trends are closer to the truth.

Currently, the popular cryptocurrency is priced at $0.4 per token. Let the bullish price history trends for ADA materialize, and maybe by the end of the month, we will see Cardano tokens at least at $0.44.

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