Price Analysis

Will Cardano Price Ever Come Out of the Bearish Grip?

  • Cardano price has been undergoing a lot of variations as seen from the 90-day price chart

Cardano (ADA) has had a good run during the initial months of the year, which had raised the expectations of its investor community. The crypto market volatility changed the fortunes of the coin and the coin went on a downhill from July. The 90-day price chart oscillates in the range of $0.04 – $0.07.

Cardano to USD Price Comparison:

Cardano Price Chart
Cardano Chart By TradingView

Cardano price has gone through a lot of variations as seen from the 90-day price chart. The price was at $0.0652 on July 20. With the ongoing bearish sentiment in the crypto market, the price volatility for ADA continued and the price fell to $0.0473 on Aug 15, the price movement was to the extent of 27.61%. On Aug 25, the price went up to $ 0.0516, when the price shows an upward movement of 8.70%.

The price again fell to $0.0459 on Sep 11, the downward swing was to the tune of 13.57%. On Sep 18, the price of ADA again went up to $0.0526, the upward swing was to the tune of 18.47%. On Oct 7, the price again had a downward movement to the tune of 26.07%, at $0.0389. Today, the price of XVG is at $0.0380, which shows a lower movement to the extent of 2.31%.

Cardano Price Prediction:

ADA price is fully under the control of the bears in the current crypto market scenario. The bears are not letting the price make a recovery and putting pressure on the price of ADA. If this sentiment continues in the market, the price of ADA is expected to go down further. The crypto market volatility is making coins scamper for shelter but this trend is expected to change by the year-end, as analysts feel that the bulls are just waiting for the right moment to take charge of the market.

Conclusion:

Investors should use this current crypto market volatility to their advantage and invest accordingly. Day traders can study the volatility and make sudden gains.

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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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