Price Analysis

Cardano Price Indicates a Downtrend for Second Day in a Row

  • Cardano price indicates an upsurge by day end.
  • The falling price jumps towards immediate resistance at $0.0398.

Cardano (ADA) is indicating a fall in the trading price, and the bearish trend has rightly taken over the market. The downtrend in the coin market started yesterday and is still intact. The coin is trading at $0.0392, and the immediate resistance level is at $0.0398. There is a strong possibility that the Cardano price could escalate to the next level at $0.0409 after breaching the said resistance.

Cardano Price Prediction:

In the month of September, Cardano started trading around $0.0451. Immediately, the price escalated to $0.0474 by 5.16%. Later, the currency moved from $0.0434 to $0.0484 by 11.46%. Further, the price kept intact and jumped to $0.055 by 24.43%. ADA coin couldn’t hold itself at the level and fell to $0.0351 by 36.88%. The movement in the price closed at $0.039, with a loss of 11.85%.

ADA to USD Price Chart
Cardano Chart By TradingView

In the ongoing month, initially, the price has jumped from $0.039 to $0.0435 by 9.26%. Later, the ADA coin price fell to $0.0379 by 12%, and with its intraday price movement, the currency jumped back to $0.039.

The intraday traders might fetch profits by the day end. For now, the price is likely to reach an immediate resistance level. Here is the list of calculated resistance and support levels:

Level Immediate Next Major
Resistance$0.0398$0.04098$0.0420
Support$0.0377$0.0366$0.0355

ADA has been giving a positive result to the traders in the past. The future of the coin is anticipated to be great, and the traders interested in the coin are suggested to go for a long-term investment plan for better results.

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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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