Will the Bears Gain an Upper Edge for Cardano (ADA)?


Cardano price had a good run from the beginning of the year. However, from the July end, the ADA coin started trading downwards. Even during the beginning of the last five days, the ADA price had an upward trend, but then due to continual bearish pressure, the price was trading below the baseline for the rest of the week.

Cardano Price Prediction:

In the last five days, the ADA coin was trading in the range of $0.041 – $0.046. The price was at a high of $0.046217 on November 06. Then, it started sliding downwards due to the ongoing crypto market volatility and went below the baseline at $0.0424 on the next day with a 7.19% drop.

eToro Crypto

Cardano price managed to rise slightly to $0.04363 on November 08. Then, the price again went on a downward rally at $0.04130, with 5.29% fall. The price of ADA coin kept fluctuating and had a slight upward surge at $0.043582. The currency is still trading below the baseline at $0.04267 with 2.17% regression from $0.04358.

ADA Coin Price Chart
Cardano Chart by TradingView

Cardano had a bad start for the 5-day period as its price was continually lashed by the bears. However, again, it has shown the ability to bounce back. Analysts are confident about the potential of the ADA coin and expect a turnaround by the year-end. Current investors should not lose hope and believe in the potential of the coin and keep investing in it for the long run.

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.

Related Articles

Back to top button