Cardano Price Analysis: Cardano (ADA) Touched $0.050 After a 5.38% Hike Overnight

Following the market pattern, Cardano has fetched a hike of 5.38% over the last 24 hours. The value of each ADA coin against USD has finally gone beyond 0.050 USD. The medium-term of the coin is likely to be bullish. Before analyzing the four major price swings, let us look at the current data of the coin now.

Current Statistics of Cardano-

Cardano (ADA) 23rd August 04:55 UTC
Rank 12th
ROI (Return on Investment) 131.36%
Coin Circulation 25,927,070,538 ADA
Market Cap 1,300,097,276 USD
Value in USD 0.050075 USD
Value in BTC 0.00000492 BTC
24h Volume 62,551,357 USD

ADA to USD Price Comparison-

ADA Price Prediction
ADA Price Chart by TradingView

Cardano faced a blow right at the starting of the day and between 01:11 UTC and 08:28 UTC, the coin was down by 3.27% losing 0.001 USD. It was followed by a hike of 9.16% and by 16:39 UTC, Cardano price was being traded near 0.051192 USD. This makes the highest point of the day for ADA coin. The third swing came as a shock to the investors as it made a cut of 0.0022 USD from the coin by 20:27 UTC. The last variation was a small and gradual hike of 2.63%, and this hike added 0.0012 USD to the coin and made the coin to go beyond 0.050 USD rising from 0.048 USD.

Cardano Price Prediction-

Cardano has finally touched its temporary target. But in order to cope with the major coins of the market, it needs another push. As past data and analysis, ADA coin is likely to have a bullish run before this year ends.

Cardano (ADA)
1st Resistance 0.051467667 USD
2nd Resistance 0.053525333 USD
3rd Resistance 0.055889667 USD
1st Support Level 0.047045667 USD
2nd Support Level 0.044681333 USD
3rd Support Level 0.042623667 USD


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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