Cardano is among the top trending coins of the crypto market. The improvement in the price of the currency was long-awaited by the traders. The last quarter in ADA coin was speculated to bring a heavy change in the price, but the market condition ruined the same.
In the first week, the performance has improved in ten folds. The upcoming weeks are likely to remain the same. The currency is anticipated to have a great future. Investors interested in the ADA coin can dig-in for a long-term investment. The same would bring a colossal profit to the traders.
Cardano Price Analysis
Yesterday, Cardano price started dealing at $0.0325, and in the next one hour, the currency price dropped to $0.0321 by 1.42% fall. Then, it improved to $0.0324 at 05:26 UTC but couldn’t hold itself at the same level and dropped to $0.0319. Later, the ADA coin locked its price at the same level until 12:00 UTC and then improved in the later hours and touched $0.0323 by 1.28% hike.
Further, the currency started downward correction, and by 17:16 UTC, Cardano price was at $0.0316. The price picked up to $0.0321 but again dribbled to $0.0316. The closing hour reflected a marginal improvement, and the day closed at $0.0319. The intraday movement in the ADA coin reflected 1.89% regression in the price.
Today, Cardano coin started the day with a steep upward move. Within 30 mins, the price escalated to $0.0323. After that, the currency spotted, taking an astounding jump to $0.0332. The current price of the ADA coin is $0.0331. As per the MACD indicator, the signal line and the MACD line ate intertwined and reflecting a bearish crossover.
The current price of Cardano has already breached the immediate resistance level at $0.0324 and the next resistance level at $0.0329. The coin is heading to violate the major resistance level at $0.0333. According to our ADA prediction and current price formation, the coin might continue to trade downwards in the upcoming hours.
Resistance & Support Levels
R1: $0.032477, R2: $0.03295 and R3: $0.033339
S1: $0.031615, S2: $0.031226 and S3: $0.030753