Price Analysis

Cardano’s Weekly Price Movement Marks 4% Regression

  • Presently, Cardano is on the verge of price recovery.
  • The week exhibits a different picture altogether.

Cardano (ADA) marks a downside movement in the last week. The market is experiencing heavy movement from the beginning of the month. It looks like the momentum would remain the same for some days. Due to heavy fluctuations, there is also anticipation that the coin could mark a hefty recovery.

If we look at yesterday’s price movement, ADA coin price was seen touching a high at $0.039672 and low at $0.037832.

Cardano Price Analysis

The price of Cardano was at $0.04066 on October 13. The price moved from $0.04066 to $0.04082 by 0.039%. The next day, ADA reached to $0.4182 by 2.45% hike. Further, on October 15, the price slipped to $0.3972 by 5.02% drop. On the next day, Cardano kept the downtrend intact and touched $0.03830 by 3.58%. On October 17, ADA price experienced a hike of 2.77% and went up to $0.03936. Then, the price again went down to $0.03800 by 3.46%. Yesterday, there was a recovery in the ADA coin that brought the price to $0.03903 by 2.70%. Today, there is a slight fall registered, and currently, Cardano is trading at $0.03849.

Cardano
Cardano Price Chart by TradingView

ADA coin is dealing with the market cap around $1,006,740,120. The 24-hour volume is marked as $40,404,760. The circulating supply is at 25,927,070,538 ADA. The ROI stands at 79.12%. However, yesterday, the volume was at $40,431,591.

As per the current trend, it seems that Cardano is attempting to recover upside and try to reach its next resistance of $0.039. Conversely, If the ADA price takes a U-turn, then it may face next support around $0.0381. Here are the calculated resistance and support levels for Cardano:

Resistance Level Price
R1$0.039987
R2$0.04075
R3$0.039987
Support Level Price
S1$0.038147
S2$0.03707
S3$0.036307

Cardano price movement still holds a possibility to improve in the future. The coin would give considerable profits to the long-term traders. Thus, we would recommend the same for the traders.

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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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