Price Analysis

Cardano Price Analysis: ADA Bullish Trend Continues to Soar

Fluctuations in Cardano (ADA) prices are highly inevitable due to the volatility of the market and also due to BTC, which is snatching away the values of every single altcoin, including ADA. Retaining the value upwards is challenging for all the altcoins, but ADA has a persistent bullish trend from the past 3 days.

Current statistics of Cardano Coin:

  • Price in USD: 0.0921 USD (01:42 UTC)
  • Price in BTC: 0.00001071 BTC
  • Circulating supply: 25,927,070,538 ADA
  • Market rank: 11
  • Market cap: 2,395,006,476 USD

Price Analysis And Future Cardano Price Predictions:

Cardano Price chart - 15 June

The above 5-day Cardano chart shows the highly fluctuating nature of coin. 0n 10th and 11th June, ADA had remained suppressed in the bearish zone only and on 10th June, it was traded at a value as low as 0.0795 USD. From the evening of 11th June, it started soaring in the bullish trend and continued to get traded in the same until yesterday noon. So, it is well understood that despite wrestling in this highly unfavorable and harsh market, it tried to maintain its bull trend to a significant extent. The support level is not so reliable and competent. It again started gravitating downwards in the bearish range. On 13th June, it had a high bullish peak of 0.0970 USD. So, considering these two price points, it can be said that the shift in the prices is huge enough if considering the span of 3 days only. It although started picking up its momentum towards the bullish range recently, but persistence is not guaranteed. Within a span of 5-days, the value of ADA increased by 15.84%. Based on these facts, we think that in the upcoming days, ADA can get traded approximately 0.0870 USD to 0.0950 USD considering the same as the support and resistance levels respectively.

Conclusion:

Cardano Coin can move up higher and can again dip down at any time subject to the market volatility. Although there was a slightly bearish trend in the coin yesterday, the future still seems to be bright. As per our analysis, we predict that the end of the year will trade ADA around $0.1.

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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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