Price Analysis

Cardano Price Analysis: Cardano (ADA) Is Still Submerged in The Bearish Level

eToro

There are no new updates which can give positive vibes to the crypto investors regarding their investments in potential cryptos. The market condition is running at its worst with intense volatility that has been ravishing the values of the altcoin like Cardano for months. The erratic and turbulent nature of Bitcoin is also one of the significant reasons why altcoins are losing their values to it.

Current Statistics of Cardano:

  • Cardano Price: 0.054010 USD
  • Price in BTC: 0.00000462 BTC
  • Circulating supply: 25,927,070,538 ADA
  • Market cap: 1,400,368,103 USD

ADA to USD Price Comparison:

Cardano Price Prediction
Cardano Price Chart by TradingView

From the above 1-day Cardano price chart, it is understandable that Cardano price is more succumbed to fall under the baseline than to rise above it. Since yesterday morning till now, it is continuously getting traded in the bearish trend, which indicates its high liquidity state. Its momentum has fallen under the downtrend, and this is the reason why it lacks effective support levels which can help to push its price up. Yesterday, ADA coin had traded at a value of 0.0544 USD, but today it had fallen further to 0.0532 USD. So, within just 1-day, the value of ADA has been decreased by 2.20%. Considering all these facts, we think that in the upcoming days, ADA can have a price of around $0.0533.

eToro Crypto

Conclusion:

From the above price analysis and future price predictions, it is cleared that Cardano coin’s liquidity is high and that it is hard for the same to rise in the upcoming days as the crypto market sphere is still very unfavorable. It is therefore suggested not to invest in ADA currently as it may incur significant losses to the investors.

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.

Related Articles

Back to top button