Cardano (ADA) Fails to Recover; Shows a 5% Decline

  • Cardano loses 5% in one day and reached 0.038 USD.
  • It may find the next resistance at 0.041 USD.

Cardano has seen a decline of 5% in the last 24 hours, and it is now hovering at 0.038 USD. There have been three price swings in this period, and these swings happened in the range of 0.040 USD and 0.036 USD.

Cardano Price Analysis

ADA coin’s first swing started at 02:14 UTC and over the next 6 hours and 19 minutes, it fell to lose 0.003897 USD and got placed at 0.036007 USD. This was followed by a small hike of 5.57% that added 0.002 USD and pushed the price to 0.037940 USD by 10:58 UTC. From 12:00 UTC, it started showing strength and an overall uptrend can be seen till ADA price reached 0.040363 USD. At 22:11 UTC, Cardano began to weakening, and over the next four and a half hours, it lost 6.24% to reach 0.037 USD.

Cardano Price
Cardano Chart By TradingView

Cardano is on a downward slope for the second day, and the overall loss has forced the value to 0.038 USD. However, the current price is above both 50 days and 20 days moving average, and it hints upcoming bullish days. The medium-term outlook of ADA coin is also likely to be bullish.

Cardano (ADA) Resistance & Support Levels
1st Resistance $0.041036
2nd Resistance $0.042676
3rd Resistance $0.045018
1st Support $0.037054
2nd Support $0.034712
3rd Support $0.033072

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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