Cardano Price Analysis: Cardano (ADA) Hits $0.048 Again After a 4% Price Drop

In the last 24 hours, following the major market trend, Cardano has taken a dip of 4% and reached at $0.048. ADA coin has shown four significant price swings in this period. However, the medium-term outlook of the coin seems bullish.

Current Statistics of Cardano

Cardano  27th August 07:14 UTC
ROI (Return on Investment) 125.39%
Coin Circulation 25,927,070,538 ADA
Market Cap 1,284,081,863 USD
Value in USD 0.048877 USD
Value in BTC 0.00000478 BTC
24-Hour Volume 81,343,465 USD

ADA to USD Price Comparison

cardano price chart - 27 Aug 2019
Cardano Price Chart By TradingView

Cardano started the day with a rise of 3.63% between 00:01 UTC and 01:07 UTC and this hike added $0.001785 to the coin. However, soon after this hike, ADA coin faced a decline of 4.58% and fell to $0.048678 by 13:14 UTC. This was followed by another hike of 4.13%, which took the Cardano price to $0.050696 by 18:08 UTC. The last swing of the day happened between 18:08 UTC and 03:36 UTC of today. This swing made a $0.0022 drop from the ADA price and made the coin to roam at $0.048451.

Cardano Price Prediction

Cardano has been playing with two extreme points of 0.048 USD and 0.050 USD for the last few days. However, the medium-term is likely to be bullish for the ADA coin. The next probable resistance and support levels are listed below.

Cardano  Resistance & Support Levels
1st Resistance $0.050796333
2nd Resistance $0.051895667
3rd Resistance $0.052847333
1st Support Level $0.048745333
2nd Support Level $0.047793667
3rd Support Level $0.046694333

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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