- Cardano (ADA) price movement exhibits astounding recovery
- The intraday trading looks flourishing
Cardano is currently under the bullish trend as the coin is spotted surging since the opening hour and the escalation is likely to break yesterday’s high records. The traders who have invested in the past must be aware about the momentum of the coin. The first quarter of 2020 would bring some astounding results and ADA coin would be one of the coins that might generate high dividends. The upcoming period of the coin is also anticipated to be result yielding.
ADA/USD Price Chart:
Cardano was trading at $0.0492 during yesterday’s opening period. The price dribbled to $0.0482 in the next two hours but soon marked recovery and climbed back to $0.0492. The price kept volatility intact for the rest of the day. The coin slipped to $0.0479 at 07:07 UTC and after hanging there for a while, the coin improved to $0.0495 by 3.42%. ADA price dribbled to $0.0474 by 4.11% but immediately recovered to trade at $0.0487.
The closing and opening prices were almost the same thus, the regression marked was marginal. Today, Cardano has taken up a different momentum altogether. After a sluggish start, the coin improved at large. The price counters moved from $0.0482 to $0.0497 by 3.09%. The coin is holding the $0.0497 level tight. At 06:40 UTC, the price of Cardano coin dribbled to $0.0491 but soon recovered to $0.050 and now has returned to $0.0497.
As per the MACD chart, the histogram is reflecting bullish influence. The MACD and the signal line is exhibiting bullish crossover as the former has overlapped the later.
Cardano has violated the immediate resistance level at $0.0494 and the coin is almost near the next resistance level at $0.0501. And as per Cardano forecast, the coin might cross its major resistance in the upcoming hours.