Price Analysis

Cardano Exhibits Loss for the Intraday Traders

The crypto market has stepped in the last quarter of the year. The previous quarter was quite devastating for the investors as the entire market dropped including big forces like Bitcoin, Ethereum, Ripple, etc. Cardano also fell due to the heavy pullback and now, the traders rely on the ongoing quarter. The market is quite volatile but still, the coins have been making moderate profits with moderate volatility.

However, the uptrend might let loose in the future and the coin could be seen facing losses. The change in the trend is highly anticipated.

Cardano Price Analysis:

Last month began with a trading price of $0.045. Then, the ADA price immediately jumped to $0.047 by 5.16%. Later, the price fell, but soon escalated and took the price to $0.048 by 10.41%. A major escalation took place that hiked the Cardano price to $0.055 by 24.94% just to slip to $0.035 by 36.88% and the month closed around $0.039 by 11.64%. The ongoing month experienced uptrend around October 10, 2019. ADA coin price touched $0.043 from $0.037 by 15.45%. The current price is at $0.0402. The immediate support level has already been breached and observes the next support near $0.0399.

ada coin price
Cardano Price Chart by TradingView

Cardano price exhibited recovery a few days ago, but there is again a downtrend indicated for the ADA coin. The indications are that the coin would be seen hovering around $0.040 for some time. The improvement is expected to take place within some time.

For now, the resistance levels and support levels are calculated as follows:

Resistance Level Price
R1$0.041025
R2$0.041507
R3$0.041779
Support Level Price
S1$0.040271
S2$0.039999
S3$0.039517

Cardano is anticipated to escalate after a short while. The traders can dig-in with a prospect of upsurge. The traders are suggested to opt for short-term investment to earn a colossal profit.

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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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