Cardano Price (ADA) Falls Under Selling Pressure; Intraday Traders Might Experience a Boring Day Ahead

  • Intraday chart reflects a heavy plunge.
  • Traders in Cardano (ADA) blockchain can face losses in the intraday trading.

Cardano (ADA) was seen climbing up with impressive momentum. The coin almost recovered the recent drop. The traders finally took a sigh of relief because of the same. The uptrend in the coin opened gates for the traders to sell. The same has created the selling pressure due to which Cardano is facing a plunge in the market.

The coin is expected to improve by the day’s end, but the projection is astronomical.

Current Statistics of Cardano:

  • The price of the coin is $0.045196.
  • The ROI is marked as 108.49%.
  • The 24hr volume is noted as $37,230,199.
  • The market cap stands at $1,171,789,661.
  • The circulating supply has 25,927,070,538 ADA.

ADA to USD Price Comparison:

The Cardano chart from TradingView as on 05th September 2019 at 04:14:58 UTC.

ADA Price Chart
ADA Price Chart by TradingView

The graph is reflecting a steep fall in the price of Cardano (ADA). Yesterday, the coin opened at $0.046. The price fell from $0.046 to $0.045 by 1.18%. Later, the coin booked another drop. This time the price switched from $0.046 to $0.045 by 1.47%. The coin tried to keep it tight around $0.0456 but couldn’t hold up and closed at $0.0453. The intraday regression was of 2.07%. Today, Cardano (ADA) again opened with a fall. The drop was of 0.65% from $0.0453 to $0.0450.

Cardano Price Prediction and Conclusion:

Cardano (ADA) has given positive results to the investors in the first two quarters. The coin is expected to close the month with a profitable price too. The future expectations from the coin are high. In the coming years, the coin might climb to some astounding digits.

We would recommend the traders to go for long term investment as it would result best. The short term investment looks a bit risky for trading.

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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