Cardano Exhibits a Devastating Fall with Intraday Movement

  • Cardano (ADA) price is on the recovery spree
  • The coin dropped to the next support level but revived soon to $0.384.

Cardano is battling with the bears since the beginning of the day. Yesterday, the coin was spotted moving up, but after the second half of the day, the price of ADA started falling, marking a huge fall. As per yesterday’s statistics, the coin touched a high at $0.040109 and a low at $0.038810.

There is a strong possibility that Cardano would recover soon. The intraday chart is also indicating recovery signs. Let’s take a look at the same.

ADA to USD Price Analysis:

Yesterday, Cardano started dealing at $0.039 when the price jumped to $0.0399 by 2.20%. The coin kept dealing around the same and later started falling. The coin escalated and took the price to $0.0399 again. Unable to hold, the tremendous fall took the coin to $0.0387 by 3.09%. Today, the market started with the bearish trend. Cardano also marked a similar movement and went down to $0.0378 by 2.30%. However, it currently trades at $0.0383.

Cardano Price
ADA Chart By TradingView

Cardano crossed the immediate support level and the next support level before the first six hours passed. After dropping to $0.0378, the price movement improved. The coin is above the immediate support and can surge till the immediate resistance level. Here is the support and resistance chart.

Resistance Level Price
R1 $0.0396
R2 $0.0405
R3 $0.0409
Support Level Price
S1 $0.0383
S2 $0.0379
S3 $0.0370

Cardano is the result-giving coin as we the traders have seen positive results in the past. The future of the investors in the coin is anticipated to be secured. The traders who want to dig-in should pick long-term investments for booking massive profit.

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.

Related Articles

Back to top button