Price Analysis

Cardano Price Analysis: Amidst the Bearish Trend, The Cardano Foundation is Extending its Reach in Asia

The Cardano Foundation is planning for its extension in Asia. And in order to achieve that, they are building a community of dedicated users and further strengthening the existing ones. In this context, their latest step was attending the Asia Blockchain Summit 2019. The Chairperson of Cardano Foundation, Nathen Kaiser, attended the summit to thrive and support its ecosystem in Asia and further making people aware of the blockchain.

Current Statistics of Cardano Coin:

Cardano Price Chart - 4 July
Cardano Price Chart
  • On July 04, at UTC 08:20, Cardano was trading around $0.07973.
  • Along with that, ADA was trading around 0.00000685 BTC.
  • At present, Market Capitalization is at 2,089,732,667 USD.
  • Additionally, the 24-hour trading volume in the altcoin was 142,965,814 USD.
  • At the time of writing, the number of Cardano coins circulating in the market were 25,927,070,538 ADA, having a Return on Investment of 271.81%.

Cardano to USD Price Comparison:

On June 09, Cardano price was trading around 0.07982 USD. Nevertheless, today 25-days hence, the altcoin is trading almost flat with a slight downward shift, and currently, it is trading with a dip of 0.11%. However, in weekly charts, the crypto has gone down by a huge margin of 7.12% from the market price of 0.085937 USD on June 28. But yesterday was a good day for the altcoin. It opened the other day at 0.081033 USD and with a marginal bounce back of 2.42%, it wrapped the day up at 0.082998 USD.

Cardano Price Prediction:

According to our prediction, Cardano (ADA) has a bright future. After gaining a bit of momentum yesterday, the coin fell back again today. And at the time of writing Cardano is trading in the downtrend. Additionally, the immediate support for the coin is at $0.078625, and immediate resistance at $0.084243.

Conclusion:

Not to forget that Cardano Foundation is one of the most active organization and is backing ADA. Although the price of the altcoin is degrading, it is more because of the bearish market. If trends are concerned, of course, the short term is bearish, but if you believe us, Cardano (ADA) will surely give a good return in the long term.

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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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