Following the market pattern, Cardano has fetched a hike of 5.38% over the last 24 hours. The value of each ADA coin against USD has finally gone beyond 0.050 USD. The medium-term of the coin is likely to be bullish. Before analyzing the four major price swings, let us look at the current data of the coin now.
Current Statistics of Cardano-
|Cardano (ADA)||23rd August 04:55 UTC|
|ROI (Return on Investment)||131.36%|
|Coin Circulation||25,927,070,538 ADA|
|Market Cap||1,300,097,276 USD|
|Value in USD||0.050075 USD|
|Value in BTC||0.00000492 BTC|
|24h Volume||62,551,357 USD|
ADA to USD Price Comparison-
Cardano faced a blow right at the starting of the day and between 01:11 UTC and 08:28 UTC, the coin was down by 3.27% losing 0.001 USD. It was followed by a hike of 9.16% and by 16:39 UTC, Cardano price was being traded near 0.051192 USD. This makes the highest point of the day for ADA coin. The third swing came as a shock to the investors as it made a cut of 0.0022 USD from the coin by 20:27 UTC. The last variation was a small and gradual hike of 2.63%, and this hike added 0.0012 USD to the coin and made the coin to go beyond 0.050 USD rising from 0.048 USD.
Cardano Price Prediction-
Cardano has finally touched its temporary target. But in order to cope with the major coins of the market, it needs another push. As past data and analysis, ADA coin is likely to have a bullish run before this year ends.
|1st Resistance||0.051467667 USD|
|2nd Resistance||0.053525333 USD|
|3rd Resistance||0.055889667 USD|
|1st Support Level||0.047045667 USD|
|2nd Support Level||0.044681333 USD|
|3rd Support Level||0.042623667 USD|
Cardano (ADA) Price Approaches Key Technical Resistance as Bulls Try to Take Over
Technically, the 11th most significant cryptocurrency is signaling to go down shortly.
- Cardano’s price is rising to a crucial resistance level at $0.049 and at the same time approaching the upper boundary of the channel
- The ADA/USD pair may go bearish if the $0.0433 level could no longer hold as critical technical support for the market
The 11th largest cryptocurrency by market cap, Cardano’s price is currently up by +1.27% in the last few hours of trading, although the market saw a slight drop of about 0.27% yesterday.
Lifting from $0.043 area on August 29, Cardano (ADA) had recorded a monthly high at $0.048. The price movement is now caught in a channel pattern on the 4-hour time frame. If Bitcoin remains in a consolidation mode for a while, we can expect the bullish trend to continue in a short-term.
Cardano’s Current Statistics
Trading Price: $0.047
Market Capitalization: $1,227,905,045
Trading Volume: $43,232,624
Key resistance levels: $0.0471, $0.048, $0.049
Key support levels: $0.0462, $0.045, $0.0444
Cardano (ADA) Price Prediction for September 16, 2019
Cardano is following a short-term bullish trend, making the price to trade around $0.47 at the moment. Now, it appears that the market is about attempting a pullback, although the buyers are still gaining control of the market. We can expect the market to sell to close supports at $0.0462, $0.045, and $0.0444 if a pullback occurs.
If the mentioned supports fail to play out, Cardano will continue to climb back to$0.0471, $0.048 and $0.049 resistance. But as it is now, the bears appeared to be looking for lower price levels. Considering long-term outlook for this market, ADA/USD is still reflecting a dominant bearish bias.
As we can see, Cardano (ADA) is trading inside a channel pattern, which suggests a bullish trend. But the pattern formation is mostly followed by a bearish breakout. If the breakout occurs, the ADA/USD pair will continue its long-term bearish move.
Technical Indicator Reading
The RSI for Cardano is showing a bullish moment after crossing up the 50 level, which means the buyers are still active in the market.
The Stochastic is conversely bullish but hovering around the upper limit for the past two days. This shows that the bulls are getting weak as the price may fall shortly.
Will Cardano Price Get Over the Bear Sentiment?
Like other altcoins, Cardano has also borne the ongoing bear sentiment in the crypto market. This has affected its prices as can be seen from the one-month price chart where the prices have been moving in the range of $0.04 – $0.05.
Cardano Price Analysis
Over the past one month, Cardano has been under the bear radar with the prices moving continually below the baseline. From a high of $0.05138 on August 18, the price of ADA has gone down to $0.04624 on August 21 to the extent of 10%. Cardano price then rallied to $0.052176 in the next 3 days to the tune of 12.76%. But it had a major fall on August 29, and it reached $0.044236 to the extent of 15.22%. Then, ADA price moved upwards slightly to the extent of 7.13% within the next 5 days at $0.04736. With the bears continuing to put pressure, Cardano again fell to $0.04464 on September 12, to the extent of 5.74%. Today, the price of ADA coin is at $0.04708, which is higher to the extent of 5.60%.
ADA to USD Price Chart by TradingView
Cardano price was able to maintain its momentum at the beginning of the year, and this upward price momentum continued till April. Then, there were intermittent fluctuations till end June. With the bears gaining a strong foothold in July, the prices were thrown off-guard and went reeling downwards on a continuous basis. Though the bulls are trying hard for recovery, they have had not much success due to continued market volatility. Cardano is expected to be in this phase for the short-term and by the year-end, when the market is expected to recover, it is likely to trade around its 30-day high value of $0.052.
Investors cannot expect any returns from this current market volatility, but they can invest from a long-term perspective.
ADA Price Keeps a Tight Hold on Uptrend; ADA Traders Would Experience a Mixed Day Ahead
- Cardano (ADA) escalation gives hope to the intraday traders.
- The coin might breach 7-day high today.
The market seems to give much-awaited result to the traders today. The crypto market started with dream digits and took the price up for many coins in the market. Cardano (ADA) has been experiencing a mixed week. During the last seven days, there were some great days of profit and some losses too.
Today, the intraday traders can expect profit from Cardano. However, there is also a high possibility for ADA to experiencing selling pressure. Let’s read the chart to understand the momentum of ADA more precisely.
ADA/USD Intraday Price Chart:
The data feed is taken from Bitfinex on 15th September 2019 at 04:06:41 UTC for price analysis.
Yesterday, the coin started at $0.0457. Cardano (ADA) fell to 0.0450 from the opening price with a loss of 1.60%. Immediately after falling, the price touched $0.046 with a progression of 4.20%. The day ended at $0.046, with an intraday profit of 1.59%. Today, the day is dealing moderately around $0.46.
Cardano Price Prediction and Conclusion:
Cardano (ADA) is a result-yielding coin in the crypto market. The currency is dealing with an ROI of 114.12%. If we compare yesterday’s volume, which was at $51,690,256 with today’s volume which, is at $52,857,559, we would observe a visible difference.
The counters of ADA are a strong indication of upcoming upsurge. The investment in ADA would help the traders in booking high dividends. The year is likely to close with ADA at $0.080. In the coming time, the price counters might incline and touch $0.1. Altogether, ADA would be a profitable investment for the traders.
The currency is recommended for the traders who have long term investment plan as the short investment in Cardano is likely to be risky.