Price Analysis

Cardano (ADA) Price Analysis: Cardano Showcases A Mix Of Highs & Lows In May

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  • Cardano’s future looks bright and secure as the long-term funding kicks in
  • Cardano’s partnerships, ADA price movements and investors interest make it shine

Cardano has been one of the high performing currencies in the recent few weeks. The price of the coin has shown positive ups with a few lows, and as the firm continues to sign new deals, there are chances of a steep surge in the imminent future. There has been a recent announcement at IOHK summit about long term funding for Cardano which further shows a progressive future for the ADA token as well as its holders. The market trend looks decent.

Cardano Price Statistics:

Let’s have a look at the overall price trend of the ADA coin by breaking it down into 2 frames. The first analysis is between May 10 and May 15, where the price of the coin moved from $0.059 to $0.100, showing a steep surge. This upward trend of over 69% caused a stir in the market and can be attributed to the announcements of new partnerships, including the one with the Mongolian Fintech Association.

Cardano Chart 1

In the next 12 days from May 15 to May 28, the price of ADA token fell from $.099 to $0.088, showing a downward trend of over 12%.  As on May 28, 2019, at 07:06:53 UTC, the price of the ADA token is noted at $0.087 and 0.00001017 BTC.  The market cap of the coin is now $2,295,534,091, and the 24 h volume has reached $192,470,046. The coin has fallen to the 11th position in the global crypto ranking with a circulating supply of 25,927,070,538 ADA.

Cardano Chart 2

Cardano Price Prediction:

The price of ADA coin will cross the $0.100 mark once again and may reach up to $0.9 by the end of 2019. In the next 2 years, the coin value will probably cross the $5 mark.

Conclusion:

Cardano is an investment for the future with huge dividends, and its long term outlook is strong.

Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

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