Price Analysis

Cardano Continues to Struggle; Starts the Week with a 0.45% Slump

Cardano seems to have continued the stream and initiated the week with an overall loss of 0.45%. It currently traded at 0.03832965 USD. The upcoming days may get full of struggles, and the support may come at $0.038. ADA coin has witnessed three major price variations over the last day.

Cardano Price Prediction:

The currency opened the day at 0.03850506 USD, and its first price shift happened between 00:13 and 02:25 UTC. Over these 2 hours and 12 minutes, Cardano lost 1.72% value and got placed at 0.037947 USD. It was followed by a 2.59% hike that added 0.00098 USD and pushed the ADA price to 0.038928 USD by 16:13 UTC. Since then, Cardano’s price showed weakness and got pushed to 0.03836 USD by a 1.44% price correction.

Cardano Chart
ADA/USD Chart by TradingView

There has been a significant decline in the market cap of Cardano. It was at 1.009 billion USD on December 08, and now it has fallen to 1.001 billion USD. It should be noted that the ADA coin’s market cap has touched a 1 billion USD mark on December 07 after being deviated since December 02.

Cardano’s 20 days MA stands at 0.03845972 USD, and it’s 50 days MA is at 0.0385646 USD. The coin is currently traded at 0.03832965 USD that is 0.609% and 0.338% less than the 50 days and 20 days moving averages, respectively. Looking at the placement of averages, it can be said that no bullish jumps can be anticipated anytime soon by ADA coin.

Cardano (ADA)Resistance & Support Levels
1st Resistance$0.03933
2nd Resistance$0.03971
3rd Resistance$0.04018
1st Support$0.03847
2nd Support$0.03800
3rd Support$0.03762
Tags

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.
Back to top button
Close