Cardano Price Analysis: Cardano’s (ADA) Yesterday’s Gain May Not Help the Coin to Recover

Cardano couldn’t show any huge change over the last 24 hours. With four significant swings, the coin could make the growth of only 0.85%. Though, the coin reached 0.053262 USD near 13:30 UTC, it could not be sustained for long. Here is an analysis of the ADA coin’s movement against USD over the last 24 hours.

Current Statistics of Cardano:

Cardano Price Prediction
Cardano Price Chart by TradingView
Cardano (ADA) 9th August 02:39 UTC
Rank 13th
ROI (Return on Investment) 138.20%
Coin Circulation 25,927,070,538 ADA
Market Cap 1,339,729,146 USD
ADA Price in USD 0.051537 USD
Value in BTC 0.00000435 BTC
24-Hour Volume 48,157,008 USD

ADA to USD Price Comparison-

Yesterday, Cardano started the day with a cut in the price. The 2.76% cut between 00:15 UTC and 06:21 UTC cost the coin 0.001 USD. After a few hours of volatility, the coin managed to grow. A jump of 5.73% took the coin to its highest point of the day at 0.053262 USD by 13:23 UTC. It was followed by a smooth decline of 3.73% over six and a half hours. The latest swing came as an ominous sign, and it could push the coin from 0.05125 USD to 0.05251 USD.

Cardano Price Prediction-

Though it has started showing growth, this doesn’t seem to be sustained for an extended period. So, getting very optimistic about the coin would not be prudent. However, in the long-term, the coin may deliver good results. Here are all the calculated resistance and support levels of Cardano for a safer trade.

Cardano (ADA)  
1st Resistance 0.053124 USD
2nd Resistance 0.054278 USD
3rd Resistance 0.055623 USD
1st Support Level 0.050625 USD
2nd Support Level 0.04928 USD
3rd Support Level 0.048126 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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