Cardano Price Analysis: Cardano (ADA) Price Is Down By Almost 4% In A Day

From yesterday’s closing, ADA coin has lost almost 4% whereas some major coins have started recovering from the recent blow. With four significant price swings, Cardano is now hovering around 0.045 USD. However, the coin has still the experts’ support of getting a rally soon.

Current Statistics of Cardano-

Cardano (ADA) 16th August 04:01 UTC
Rank 13th
ROI (Return on Investment) 112.23%
Coin Circulation 25,927,070,538 ADA
Market Cap 1,190,619,163 USD
Value in USD 0.045811 USD
Value in BTC 0.00000445 BTC
24h Volume 44,967,903 USD

ADA to USD Price Comparison-

Cardano Price Prediction
Cardano Price Chart by TradingView

At 00:44 UTC, Cardano was trading at 0.048102 USD and by 06:24 UTC, it fell to 0.045160 USD. It was followed by a reasonable hike of 4.91% over the next three and a half hours that added 0.002 USD to the value of each ADA coin. After the next few hours of volatile movement, Cardano again faced a hike of 4.77% that took the coin to 0.048108 USD. The latest swing came as a dip in the value of each coin. From 22:09 UTC, over 5 hours and 16 minutes, the ADA price was pushed from 0.047964 USD to 0.045567 USD.

Cardano Price Prediction-

Cardano is likely to take some more days before catching the flight to a price rally. Before the end of 2019, the coin is expected to turnaround its situation. Here is a table showing the next resistance and support levels of ADA coin.

Cardano (ADA)
1st Resistance 0.048525 USD
2nd Resistance 0.049531 USD
3rd Resistance 0.051045 USD
1st Support Level 0.046005 USD
2nd Support Level 0.044491 USD
3rd Support Level 0.043485 USD

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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