Cardano Price Analysis: Cardano (ADA) price plunge continues; Price hovers around $0.057

  • Cardano (ADA) trades at $0.057 price level.
  • Price is expected to trade around the same price level for the rest of the day.

Cardano (ADA) price is experiencing a heavy plunge in the market. There was a high expectation of recovery in the coin price. The last month was quite disappointing for the entire market. Cardano (ADA) was among the prime victims during the downfall in the altcoins. For the intraday traders, the day is anticipated to remain dull. However, there are strong indications that the coin would start rising in the upcoming days.

Current Statistics of Cardano (ADA):

  • The coin is currently trading at $0.057357.
  • The ROI (Return on Investment) is marked as 167.11%.
  • The 24hr volume is noted as $52,409,483.
  • The market cap stands around $1,501,265,914.
  • The circulating supply is marked as 25,927,070,538¬†ADA.
  • The coin is ranked at 11th rank in the crypto market.

ADA to USD Price Comparison:

The chart is taken from Trading View on 03rd August 2019 at 01:25:08 UTC for price analysis.

Cardano Price Prediction
Cardano Price Chart by TradingView

Looking at the chart, we can spot a regression in the coin. A week ago, the coin was trading around $0.0599 on 28th July. On the same day the coin slipped as low as $0.056 marking a regression of 1.19%. Next day, the coin jumped from $0.059 to $0.060. The upsurge was of 2.30%. The last day of the previous month again booked a regression of 1.18% as the price changed from $0.060 to $0.059.

This month, the coin escalated from $0.059 to $0.060 on 1st August. The upsurge was of 0.59%. The coin started falling after then. The first fall was of 2.31% as it slipped from $0.60 to $0.058. Yesterday, the coin opened at $0.058 and closed at $0.057. The regression was of 2.47%. Today, the coin opened at $0.057.

Cardano Price Prediction and Conclusion:

The market was seen suffering in the previous month. There are high expectations that the traders would be seeing a heavy upsurge in the ongoing month. Well, the coin is not showing any indication of recovery for the time being. However, the next week may bring a price rally in the price of the coin. We are anticipating that coin would be seen trading around $0.3 by the end of the current year. The currency would give good results to the long-term investors.

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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