Price Analysis

Cardano Price Registers Heavy Fall; ADA Finds Immediate Support at $0.0426

  • Cardano price comes under market pressure and drops to $0.0434.
  • The intraday recovery seems to be unlikely.

The crypto market has been volatile for quite a long time and the same has badly affected the coin. Cardano, which was once dealing at $0.106 is now at $0.042. The fall is tremendous and expecting a heavy recovery has really been difficult for the traders. However, in the last couple of days, ADA price reflected a healthy improvement. Yesterday, Cardano was seen surging as high as $0.046. However, the month started when Cardano was at $0.041.

Let’s have a look at the intraday chart for a better understanding.

ADA to USD Price Chart:

Cardano Price
ADA Chart By TradingView

Yesterday, Cardano started trading at $0.0440. The price slipped down to $0.0437 within the first few hours. The ADA coin recovered later and traced a high at $0.0459 by 5.01%. Cardano couldn’t hold up to the level and fell to $0.044 by 2.82%. The last few hours remained tight around $0.044. The intraday movement in price brought a profit of 1.72% as the coin closed at $0.044. Today, the opening hours reflected a slight uptrend which later got revered. The fall brought the coin down to $0.0435.

Cardano Price Prediction:

Cardano price is still anticipated to grow in the coming days as soon as the trend uplifts. The traders in the coin could then expect a high dividend in return.

For intraday traders, the coin has already breached the immediate support level at $0.0438. The price is heading towards the next support level at $0.0426. The same is also likely to be violated soon. Here, take a look at the resistance and support levels.

Resistance LevelPriceSupport LevelPrice

Cardano is usually recommended for long term traders. But, the price of the coin has recently behaving hastily. Hence, it wouldn’t be a perfect time to dig-in. The traders are suggested to stay put for a better result in the future.


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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