Cardano Witnesses a 1.91% Pullback; Price Consolidates at $0.048393

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  • Cardano value against USD has been trimmed down by 1.91% over the last 24 hours, and it currently trades around 0.048393 USD
  • It may soon seek the support of 0.047946 USD

Cardano has followed the market norm and lost 1.91% over the last day. Its value has been dragged from 0.049337 USD to 0.048393 USD. The next few days for Cardano may continue with the losing spree.

Cardano Price Analysis

Cardano was trading at $0.049337 at the starting of the day, and its first swing happened over the next 9 hours and 6 minutes. This swing pushed the value to drop by 3.02% and confined it at $0.047849. It was followed by a short recovery of 3.41% that added 0.0016 USD in the value and pushed it to the highest of the day at $0.049483. Later, it dipped and fell to 0.047502 USD by 16:46 UTC, thanks to another 4% price reduction. However, towards the end of the day, ADA could gather some momentum. Between 16:46 UTC and 23:37 UTC, it was swollen by 3.08% and had hit 0.048952 USD.

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Cardano News
ADA/USD Chart By TradingView

Cardano’s both 20 days MA (0.048499 USD) and 50 days MA (0.048575 USD) are trending well above the current value, which show lack of support. The gap between its MACD line and the signal line also stands tall as the signal line overrides the MACD line and gives a bearish divergence. ADA price may further fall in the upcoming days. We can expect the next halting point for Cardano to come at 0.047946 USD.

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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