Cardano’s 30 Days Movement Exhibits Sluggish Trend

  • Currently, Cardano is trading at 0.0391 USD

Cardano Foundation has appointed Tommy Kammerer as its new community manager. The community has been demanding relevant technical content regarding the crypto and the appointment is a direct response to that. This is a substantial step towards the Foundation’s community growth goal.

ADA Price Analysis

In order to have an understanding of the movement of Cardano, let’s look at the variation in the coin over a period of 25-days. On September 08, it was trading around 0.0477 USD. From there, the coin has moved down by a margin of 18.03%. However, in the weekly chart, the coin portrays a horizontal action and slide down by a marginal value of 0.2% from the level of 0.03927 USD on September 28. The altcoin showed a bit of strengthening in yesterday’s trading. It opened at 0.038507 USD and with a strengthening of 2.44%, wrapped the day up around 0.039445 USD.

Cardano Price
Cardano Chart By TradingView

At present, Cardano (ADA) is facing a sluggish trend. For now, the immediate resistance for the coin is at 0.04 USD and support level at 0.0383 USD.

Cardano is now in the Shelley Testnet era and there is a need for technical content creators to elaborate the details of the chain to the community. In that context, the appointment of the community manager is a smart move by the foundation in order to engage the community. For now, the trends in ADA are leveled and one should wait for a bit of strengthening before selling the chip. However, buying at this level is a good option.

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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