Cardano Price Analysis: Cardano (ADA) Exhibits A Tremendous Price Fall

  • Cardano (ADA) opens the intraday chart with a heavy drop.
  • Intraday traders shouldn’t hold much hope from the coin.

Cardano (ADA) couldn’t hold the market pressure any longer and is crashing down the price chart. The fall in price is tremendous and heartbreaking. The same is reflecting that recovery in the altcoin market would arrive a little late.

The coin was seen touching a high at USD 0.050331 and a low at USD 0.048842 on yesterday’s chart. The volume marked yesterday was USD 32,132,615.

Cardano Price Analysis: Cardano (ADA) Exhibits A Tremendous Price Fall

Current Statistics of Cardano:

  • The coin is currently dealing at $0.047.
  • The ROI stands at 116.94%.
  • The coin is at the 13th rank in the altcoin market.
  • 25,927,070,538 ADA are circulating today.
  • USD 1,219,284,197 is marked as the market cap.
  • 24hr volume stands at USD 41,917,700.

ADA to USD Price Comparison:

The chart is taken from Trading View on 21st August 2019 at 03:43:12 UTC for price analysis.

ADA Price Prediction
ADA Price Chart by TradingView

Yesterday, the coin opened with a downtrend of 2.44%. The price changed from $0.050 to $0.049. The coin kept dropping. There was a slight recovery in the middle of the day of about 2.21% as price shifted from $0.049 to $0.050. The coin closed at $0.049 with a loss of 2.45%. Today, the coin slipped from $0.049 to $0.047. The rest of the day is not indicating much improvement.

Cardano Price Analysis: Cardano (ADA) Exhibits A Tremendous Price Fall

Cardano Price Prediction and Conclusion:

Cardano (ADA) was seen rapidly climbing up on the price chart. This is among the few coins in the market which has shown maximum recovery in price. The current scenario in the coin could be disturbing, but the future of the coin is bright. In the previous month, the coin was seen with the perfect momentum, which is speculated to return soon. The currency would be best suited for long term traders as it would bring a colossal profit.

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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