Price Analysis

Cardano Price Analysis: Cardano (ADA) Wraps Up the Week with 5% Dip

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  • Cardano declines from the trading price of $0.060 yesterday to $0.057 today recording 5% dip
  • Cardano price may bounce back to trade above $0.062 over the weekend

This has been a week of mixed trends for Cardano coin. The week started on a good note when the coin was trading at $0.061 and it started declining gradually in the midweek but gained some pace back again yesterday. However, the coin has again tumbled down below $0.060 as per the current market statistics but the upward progress is on the cards for this coin.

Cardano Price Statistics:

In the last one day, ADA coin has recorded a downtrend of 5%, dipping from $0.060 to its current value at $0.057 as on July 26, 2019 at 06:12:06 UTC. Today, the coin started trading at $0.058 and has come down since then to $0.057. The entire week has been all about moving within $0.060 range for the Cardano coin.

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Cardano price chart July 26
Cardano Price Chart by TradingView
  • The current trading price of ADA coin is noted at $0.057 and 0.00000589 BTC
  • The market cap of the coin is $1,486,357,129
  • The 24 h volume stands at $38,538,669
  • The ROI of the coin has been 164.80%
  • The circulating supply of the coin is 25,927,070,538 ADA

The first resistance level of the coin can be expected in the next few hours at $0.058 after which it is expected to start rising again up to $0.060. The coin may surge up to $0.062 over the weekend.

ADA Price Prediction:

Cardano coin may rise up to $0.065 by the end of the month. The price of ADA at the beginning of July was $0.085 and it has recorded a downtrend of 32% since then falling at $0.057. But, the coin is expected to close the month on a better note than today’s trend and may rise above $0.060. The coming weeks of the next month may record surging trends for ADA coin, owing to new partnerships and community engagement activity however the bullish surge may only be recorded after the coin is out of this loop.

Conclusion:

It is a good time to invest in bulk in the ADA coin for long-term gains. Short term investments may not yield good value till a few more weeks.

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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