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
R1$0.046S1$0.043
R2$0.0470S2$0.042
R3$0.048S3$0.041

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.

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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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