Price Analysis

Cardano is Down by 7% & May Seek the Support of $0.034 Soon

  • Cardano loses 7% overnight to reach 0.036 USD
  • It may find support at 0.034 USD by the end of this week

Cardano (ADA) seems to have lost the track completely and it has been down by more than 7% over the last 24 hours. The value of each coin has now reached 0.036 USD; the price movements were in the range of 0.0388 USD and 0.0361 USD.

Cardano Price Analysis:

In the first 11 hours, Cardano saw a downtrend and it fell from 0.0388 USD to 0.0375 USD. The first swing started at 11:18 UTC and in the next 1 hour and 21 minutes, it lost 0.001 USD to reach 0.036192 USD. It was followed by a series of a hike that added 0.001284 USD with the help of a 3.55% increment; this increment helped it to reach 0.074 USD. The next few hours were full of volatile fluctuations and the last variation for ADA happened between 22:30 UTC and 04:24 UTC; this swing took the value from 0.0377 USD to 0.0359 USD.

Cardano Price Chart
Cardano Price Chart by TradingView

Cardano is not in a good phase and it may have to face trouble for some more days. The current price is well below the 20 days and 50 days moving average. Therefore, expecting a recovery in the coming days would not be prudent. It may fall to the support of 0.034 USD by the end of this week.

Resistance & Support Levels –

R1- $0.038721333, R2- $0.039956667, R3- $0.040996333

S1- $0.036446333, S2- $0.035406667, S3- $0.034171333

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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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