Cardano Price Analysis: ADA Continue to Trade with Plunging Price Trend

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The conditions of altcoin like ADA is running at its worst level because of the fact that intense volatility still prevails in the crypto sphere. The erratic and turbulent nature of BTC is also playing a significant role in slashing down the prices of ADA, no matter how much potential it has on its own. This is the reason why no new projects related to altcoin like Cardano is expected to succeed before the market condition improves to a great extent.

Present Statistics of ADA:

Price in USD: 0.0544 USD

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Price in BTC: 0.00000563 BTC (03:01 UTC)

Circulating supply: 25,927,070,538 ADA

Market rank: 12

Market cap: 1,417,402,048 USD

ADA Price analysis and future price predictions:

Cardano price chart July 24
Cardano Price Chart by TradingView

From the above 1-day chart of ADA, it is clearly visible that ADA is currently getting traded in the extreme bearish zone. Its value has been deteriorating every now and then in this intense volatile crypto sphere. Since yesterday evening, it has been getting traded in the bearish zone only with the slightest intermediate peep up in the bullish zone. Its momentum has also swept downwards and as it is not possible for ADA to hold on to its bullish trend, with the lack of effective support levels. Yesterday only, it got traded at 0.0594 USD and today it even slipped as low as 0.0538 USD. This price shift in ADA costed the coin to lose 8.41% in just a span of past 24 hours.

Conclusion:

ADA’s current condition is highly volatile and dull. However, the coin is expected to trade around $0.3 to $0.5 by the end of 2019. One should plan for long-term investments in the coin as it has enough potential to surge.

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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