Price Analysis

Cardano Price Analysis: Cardano(ADA) Dips Below $0.060 After a Day of Surge

  • Cardano seems to be heading towards yet another round of plunge below $0.050
  • ADA needs a magic stroke to pull itself from the constantly slow trends

Cardano (ADA) reached as low as $0.055 briefly today. Although the coin has managed to come out of it soon enough it is still not able to maintain a constant surging pace since the past 2 weeks now. The month of July has been one of the worsts for this crypto. The current market performance also conveys the same message.

Cardano to USD Price Comparison:

Cardano Price Chart - 23 July
Cardano Chart by TradingView

In the last day, ADA token has declined by 8% falling from $0.061 to its current value at $0.056 as on July 23, 2019, at 11:10:58 UTC. The crypto recovered from the falling trends in the last 2 days but is back again to the slumping trends in no time. ADA also fell as low as $0.055 today which may even become the lowest recorded value of the day.

  • The current trading price of Cardano coin is noted to be $0.056 and 0.00000567 BTC
  • The market cap of the coin has reached $1,460,971,322
  • The 24h volume is now $60,585,001
  • The ROI of the coin stands at 159.63%
  • The circulating supply has been 25,927,070,538 ADA

ADA may close the day trading around $0.059 or above it. The coin may continue with the slow movements for the next 2 days as well but may pick up the pace by the weekend.

Cardano Price Prediction:

With the current speed of the coin, reaching $0.09 seems to be a farfetched dream and then crossing its all-time high value at $1 seems next to impossible this year. However, if the firm is able to crack the code to achieve uninterrupted growth, ADA may rise up to $0.3 to $0.5 by the end of the year showing exponential surge.

Conclusion:

It is a good time to plan long-term investments in the ADA token.

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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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