Price Analysis

Cardano Price Analysis: Market is Slightly Bearish; Volume Might Get Affected After the Update in the Crypto wallet

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Emurgo recently released a re-defined and updated Yoroi 1.7 wallet with an ability to connect to Cardano (ADA) explorer. In the new update, the whole layout is re-designed, and a few new themes have been added. Now, any user can send entire wallet balance in one go with a “send all” functionality. Additionally, a fresh set of languages package including Spanish & Italian has been added. On top of that, Emurgo opened up their brand new office in Tokyo to the public for the first time and hosted a showcase meetup with their new partners YOO Sourcing, Herobit, Cimcome & AraPay.

Current Statistics of Cardano Coin (On June 20, at UTC 00:38):

Cardano Price Chart - 20 June
Cardano Chart by Trading View
  • ADA vs. USD was trading around 0.08823 USD.
  • At the same time, ADA vs. BTC was trading around 0.00000958 BTC
  • The Market Cap of the Cardano coin was 2,304,880,132 USD.
  • The 24-hour trading volume was 122,956,310 USD.
  • With an ROI of 310.09%, the total Cardano coins circulating in the market were 25,927,070,538 ADA.

Cardano to USD Price Comparison:

On May 27, Cardano was valued at 0.089 USD, but today, after 25-days, the altcoin is trading with a dip of 0.8% as shown in cardano chart. Similarly, in weekly charts, Cardano has seen a downfall of 4.19% from the market price of 0.08819 USD on June 13.

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Cardano Price Prediction:

Although short term trends are bearish, we would like to stick to our earlier prediction of the coin, i.e., of $0.1. For now, the three resistance levels for Cardano are at 0.090789 USD, 0.092501 USD, and 0.09342. Additionally, the support levels are at 0.088158 USD, 0.087239 USD, and 0.085527 USD.

Conclusion:

Just like the last week, after the bull run on the first three days, there is a slight slowdown in the market from today. And that can also be observed in Cardano. However, the fundamentals of ADA are strong, and it will surely give a good return in the long term.

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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