Cardano Price Analysis: Cardano (ADA) Price Trend Is Looking Uncertain Even After Its Byron Updates
Cardano recently brought a new update with its Byron completion. After a long time, it although released its new update but it is not able to stir up the crypto community. According to the majority crypto analysts, the situation is not expected to improve before the end of this year, and this intense volatility will terminate good fate of majority updates of the altcoin like ADA.
Current Statistics of Cardano:
- Price in USD: 0.049968 USD
- Price in BTC: 0.00000481 BTC
- Circulating supply: 25,927,070,538 ADA
- Market Cap: 1,297,456,970 USD
ADA to USD Price Comparison & Forecast:
From the above 5-day ADA price chart, it is evident that the coin is more inclined to fall down every then and now rather than to rise up for it is seen that intermediately, Cardano has declined down at a steep rate. This indicates that its momentum is very unstable due to which it lacks that support which can push its value up. Moreover, even if it is trying to trade with upside movement, it is hardly able to reach a good peak and is falling easily. For instance, on 21st August, Cardano price is declined down to as low as 0.045787 USD, and today, it reached a peak of 0.050992 USD. So, the shift in the prices is not that great within these five days and although its value is raised by 9.19%. Considering the past data and analysis, we assume that in the upcoming days, ADA can have a value around its next resistance level of $0.052.
Conclusion:
Therefore, Cardano is highly volatile as of now, and investors should not think of investing in the same as it can incur great loses to them. Therefore, it’s better to wait until the market volatility subsides and ADA coin can maintain its stability in the bullish trend.
