Cardano Price Falls Under Selling Pressure After a Marvelous Opening

Cardano (ADA) recently completed two years of its journey in the market since the inception. The brains behind the coin planned to increase the popularity by entering in a new venture. The currency seems to be on the right path. The current market scenario adds extra credit to currency as the unexpected upsurge hits the market. At present, ADA is dealing with a slight plunge which is however good to attract potential traders and the future of Cardano seems brighter than ever. We are quite positive that investment in Cardano wouldn’t go futile.

Cardano Price Analysis:

Cardano Price
Cardano Chart By TradingView

The data feed is from Bittrex taken on October 01, 2019 at 10:37:22 UTC. The price was seen falling in the opening hours from $0.037 to $0.035 by 3.46%. There was an immediate improvement in the coin when the price escalated to $0.038 by 6.36%. Further, it touched $0.039 by 4.44%. There was a drop which took the coin back to $0.038 marking a regression of 4.13%. The intraday price movement brought a progression of 4.61% and closed at $0.039. Today, the day began with 2.18% hike as the price moved from $0.0390 to $0.0398. Later, the coin slipped and is now trading at $0.0391.

ADA is ranked at 12th position in the crypto market. The coin has held its position well, looking like it would keep it intact in the future too. The traders are likely to take more interest in the investment, if it continues to have a growing momentum. It is expected to have a visible change in the market cap which would lead to the improvement in the position of the coin as well.

Cardano is recommended for long-term investors and in the specified period it is expected to fetch the desired result to the investors.

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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