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Price Analysis

Cardano Shows Signs of Strength, but no Quick Turnaround Seems Imminent

  • Cardano grows by 1.91% in the last one day
  • The next resistance may come at 0.045 USD

Cardano has managed to grow by 1.91% in the last 24 hours, and the price movements of the past 24 hours have been in the range between 0.040845 USD and 0.043509 USD. It has shown three major price variations in this period.

Cardano Price Analysis

Cardano opened the day at 0.041171 USD, and the first variation started at 02:35 UTC, which took the value to 0.043509 USD by 14:20 UTC. It was followed by a steep fall of 3.57% over the next 1 hour and 9 minutes and the value got placed at 0.041954 USD. The next few hours were full of volatile fluctuations, and at 17:18 UTC, it started weakening again. Between 17:18 UTC and 02:30 UTC, ADA plunged by 2.85% and reached as low as 0.041734 USD.

The current market cap of Cardano stands at 1.088 billion USD, and it has witnessed a free fall from 1.10 billion USD in the last 24 hours. The 24 h volume of ADA currently is at 63,010,060 USD.

Cardano Price
Cardano Chart By TradingView

As of now, Cardano’s 20 day’s average is above the 50 days average, and the current price trend is well below both the lines. It shows that Cardano may not have any quick turnarounds in the coming days. The next resistance may fall at 0.045 USD.

Cardano (ADA)Resistance & Support Levels
1st Resistance$0.0436
2nd Resistance$0.0446
3rd Resistance$0.0459
1st Support Level$0.0412
2nd Support Level$0.0399
3rd Support Level$0.0389

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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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