Cardano has made its investors go through a roller coaster ride over the last seven days. It has made an overall 5.71% gain in this period, and the value has been up from $0.052976 to $0.056003.
Cardano Price Analysis
ADA price was at $0.052976 at the starting of January 29. Then, in the next 9 hours, the price increased by a massive hike of 8.30%, and the Cardano coin touched $0.057375. It was followed by a pulling down of value by a huge drop of 9.06% that placed ADA price at $0.052178 by January 31. This was the lowest point for Cardano in the last week. However, it started to strengthen soon.
By February 02, ADA could get a boom of 12.43%, and this swing pushed the price to the weekly high of $0.058650. The last variation happened between February 02 & 04. Over these two days, Cardano witnessed another regression in the value to the extent of 7.71%, and the price dropped to $0.054130.
There has been a moderate level of increment in the market cap as well. The market cap on January 29 was 1.387 billion USD, and over the last week, it has been swelled to 1.457 billion USD.
Cardano’s current price at $0.056003 is trending above its short-term daily moving averages. ADA coin is likely to stick to the ongoing uptrend in the near-term. As per the ADA price forecast, the coin stumbles upon its next resistance at $0.057693667. Investors should be ready to face price volatility on the intraday level.
| Cardano (ADA) | Resistance & Support Levels |
| 1st Resistance | $0.05769 |
| 2nd Resistance | $0.05939 |
| 3rd Resistance | $0.06111 |
| 1st Support | $0.05426 |
| 2nd Support | $0.05253 |
| 3rd Support | $0.05084 |