Cardano (ADA) Nears the YTD Lowest after a 17% Decline

  • ADA coin makes a 17% cut in the last one day.
  • The next support may come at 0.033 USD.

Cardano has made an almost 17% decline in the value over the last 24 hours, and it has fallen to 0.038 USD. The lowest YTD value is at 0.036 USD and it may reach that low very soon. There have been four price shifts in this period.

Cardano Price Analysis

The first variation started at 05:07 UTC and in the next 10 hours, ADA price made an overall loss of 7.12% and pushed it to 0.043239 USD. It was followed by another massive fall of 19.81% and this fall between 16:12 UTC, and 19:46 UTC pushed the coin from 0.044 USD to 0.036 USD, the lowest point of the day. However, at 19:46 UTC, Cardano saw little strengthening, and in the next three and a half hours, it went on adding 0.0031 USD to reach 0.039406 USD. The last swing of the day started at 23:55 UTC, and by 03:50 UTC, it reached 0.038958 USD.

Cardano Price Analysis
Cardano Price Chart by TradingView

Both the 20 days ($0.04685650) and 50 days ($0.04785540) average are way above the current ADA price, thanks to the last day’s drastic fall. It may soon seek the support of 0.033 USD by the end of this week; there is no strong visible sign of recovery as of now.

Resistance & Support Levels

  • R1– $0.044151667, R2– $0.050730333 and R3– $0.054794667
  • S1– $0.033508667, S2– $0.029444333 and S3– $0.022865667

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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