Price Analysis

Cardano (ADA) Shows an Uptrend; Escalates by 2.5%

  • Cardano gains 2.52% over the last 24 hours and touched $0.0339
  • The next resistance may come at $0.03517
  • The medium-term outlook of ADA coin seems bullish

Cardano has been able to find a stable point amidst the utmost volatility in the market. Over the last 24 hours, it has been through four major price swings in the range between $0.0327 and $0.03452.

ADA coin was being traded at $0.03306 at the starting of the day, and over the next 14 hours, it went on to add $0.00145 and got placed at $0.03452. It was followed by a 2.83% fall that cost it $0.00097 and confined the price at $0.03354 by 18:44 UTC. After that, Cardano started showing signs of strength and managed to add a 2.08% value and got placed at $0.03425 by 23:10 UTC. Towards the closing of the day, it came across another price correction that took the ADA price to $0.03357 by 01:11 UTC today.

Cardano Price Prediction

Cardano Coin News
ADA/USD Chart By TradingView

ADA’s 20 days MA stands at $0.03384, and it’s 50 days MA is now at $0.03377. Currently, the price of Cardano is roaming around $0.03390, which is 0.38% and 0.15% more than the 50 days and 20 days moving averages, respectively.

There has been a marginal increase in the market cap of Cardano coin over the last 24 hours. On December 24, it was 885.711 million USD, and it has been increased to 886.259 million USD today.

As per the current momentum, the currency is likely to trade around the next resistance is likely to come at $0.035173 with a bullish medium-term outlook.

Cardano (ADA)Resistance & Support Levels
1st Resistance$0.035173
2nd Resistance$0.036184
3rd Resistance$0.037318
1st Support$0.033028
2nd Support$0.031894
3rd Support$0.030883

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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