Price Analysis

Cardano Is Expected To Rise In The Upcoming Days

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Cardano is often referred to as more than a cryptocurrency, and it is the first digital currency to be built from a scientific philosophy. It is the only cryptocurrency designed and developed by a global team of leading engineers and academics. Cardano (ADA) is a decentralized platform that enables complicated programmable transfers value in a very secure and scalable format. It is one of the early blockchains that is built in the Haskell Programming Language. Its developers are currently developing a smart contract platform by adding more features and updates which will be exquisitely innovative than its other protocols which have been developed earlier.

Present status of Cardano (ADA)

Cardano is currently getting traded at a value of USD 0.043644 (UTC time 06:15). It is standing at the 12th position in the cryptocurrency market. Its present market cap has an amazing trade value worth USD 1,131,563,657. At present, 25,927,070,538 ADA is available to trade with. Compared to its yesterday’s price, the value of ADA has been spiked up by 1.37%, and it is on a bullish trend till now.

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Price analysis of ADA on the basis of Cardano Charts

Cardano chart

From the above chart, it is seen that the currently, ADA has a price point of 0.043635 USD or 0.00001129 BTC (UTC time 06:23). Its current market cap has a trade value of 1,131,325,069 USD. Its present 24h volume has a value worth of 18,708,646 USD. From the same above chart, it is seen that nearly one month back, the price of ADA was 0.038345 USD. Thus, within this approx. One month period, the price of ADA has been hiked by 13.79%. The price range of ADA has been on a bullish trend since one month with 0.041131 USD as its very good support level.

Future price predictions of Cardano

Over the past few months, it has been observed that ADA has been maintaining good stability to a certain extent. Cardano is known as the Ethereum of Japan, and 95% of ADA’s users are Japanese people only. The crypto analysts expect that ADA will be on the rise in this year. Its value will hover around 40 cents mark. Towards the end of the third quarter of 2019, it is expected that the value of ADA can be $0.30 but, again in the last quarter, it can rise to $0.40 mark. After 5 years, the price of Cardano can reach to $2.

Cardano has the aim to be the third generation crypto with the goal to overcome issues that other cryptocurrencies have. From the above price predictions, it is cleared that 2019 will be a good year for ADA as its price range will be on bullish trend mostly, and it can be a very good option for long term investment too.

Summing up

Cardano is on its way to gain more trust and traction from its users. Investors who are thinking to get good returns from ADA investment, they can proceed at ease, as 2019 is going to be profitable for ADA. They can also consider ADA investment in long term basis as well.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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