Price Analysis

Will Cardano Maintain the Recent Hike it Achieved?

  • Cardano adds 1.12% in the last 24 hours despite a slowdown in the overall market.
  • It may find the next resistance at 0.048 USD.

Cardano has risen by 1.12% in the last one day and its hide and seek is likely to end soon. It is expected to maintain a bullish momentum on most of the remaining days of the month. The short-term may not witness any significant hikes, but in the medium-term, it will bounce back.

Cardano Price Analysis

Cardano was trading at 0.045226 USD around 01:17 UTC and it suddenly went down by 2.39% to reach 0.044146 USD. It was followed by a series of strengthening price momentums, which took ADA price to 0.0448 USD; Cardano got an increment of 4.92% on the whole. This hike placed it at 0.046319 USD, the highest price mark of Cardano for the day. Later, it had to face a price correction of 3.25% where it confined to 0.044813 USD. The last variation happened between 01:19 UTC and 04:48 UTC and this variation lifted the value by 1.07% to put it at 0.045292 USD.

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Cardano price chart
Cardano Price Chart by TradingView

Cardano has its YTD high at 0.093 USD and looking at the current value; it can be said that it has been to some rough waters. But at the same time, it hints at the potential of Cardano. In the medium-term, it may get bullish and go as near as possible to its YTD high.

Resistance & Support Levels:

Cardano (ADA) Resistance and Support levels
1st Resistance $0.046436333
2nd Resistance $0.047420667
3rd Resistance $0.048427333
1st Support Level $0.044445333
2nd Support Level $0.043438667
3rd Support Level $0.042454333

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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