Price Analysis

Cardano Price Steep Walk Marks 3% Fall

Finmax
  • ADA price registers heavy loss during intraday trading
  • The day is expected to remain dull for the traders

Cardano (ADA) is suffering for a long time now. The entire month reflected heavy fluctuation and the same has affected the coin at large. The currency has lost many loyal traders in the same course.

Today, the price movement in ADA coin is again heart-breaking. The price was seen hovering around $0.036 and looks like it would remain the same for the rest of the day.

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To understand the intraday movement of the coin, let’s have a look at the chart given below.

Cardano Price Prediction:

Cardano Price Forecast
Cardano Chart By TradingView

Yesterday, the coin started trading at $0.0387 when the price immediately shifted to $0.0378 by 2.22%. The price dropped to $0.0360 by 6.08%. The price kept falling and touched $0.0350 by 3.45%.

The recovery took the price up again to $0.0365 by 3.43%. Cardano closed the day trading around $0.0365 marking an intraday loss of 5.58%. Today, the day started with a plunge when the coin moved from $0.0365 to $0.0360 by 1.56%.

Cardano is currently dealing at $0.037. The price seems moving towards the immediate support level at $0.035. The market pressure is quite heavy; hence, the currency might slip down to the next support level too. The other calculated support and resistance levels are as follows:

Level Immediate Next Major
Resistance $0.03833 $0.040251 $0.041523
Support $0.035137 $0.033865 $0.031944

The market is vulnerable at the moment and therefore this is not an apt time to invest. Thus, the traders are suggested to stay put for some time and wait for recovery. The coin is expected to climb soon.

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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