Cardano Records a 6.12% Slump; Next Support May Come at $0.045

  • Cardano loses 6.12% in one day and touches 0.046 USD.
  • The next support may fall by 0.045 USD.

Cardano has been down by a whopping 6.12% in the last 24 hours and the value has now fallen to 0.046 USD. A few days ago, it was actively pursuing 0.050 USD and the recent grey market condition seems to have taken the thunder from ADA. However, this low value is not going to last long; the medium-term outlook is likely to get bullish.

Cardano Price Analysis:

Yesterday, Cardano started the day with a loss of 3.02% from 0.049 USD  to 0.047 USD. The next variation gave a little strength, it added 0.001711 USD to the value and it managed to push the ADA at 0.049 USD again. The third variation was a huge fall of 7.81% and it pushed the value to 0.045 USD by 00:16 UTC. However, in the early hours of today, Cardano managed to get strengthened and it rose to 0.046 USD after a 2.05% gain. Both the 20 days and 50 days average are above the current price of ADA and it hints at many potential constraints on the path of recovery.

Cardano Price
Cardano Chart By TradingView

Cardano’s near future may not see any quick turnaround. It may further fall and seek the next support at 0.045 USD. However, we predict that the medium-term may get bullish and a price rally before 2020 might become possible.

Resistance & Support Levels:

Cardano (ADA)
1st Resistance $0.048458
2nd Resistance $0.050652
3rd Resistance $0.051749
1st Support $0.045167
2nd Support $0.04407
3rd Support $0.041876

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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