Cardano News Today – Following A Bullish Weekend Cardano ADA Starts The New Week With A Bearish Reversal And 6% Drop – March 30th, 2020 

  • Cardano ADA Increased Briefly During The Weekend Recovering Against Bitcoin And The USD.
  • Cardano ADA Price Begins The Week With a 6% Fall Against The USD. 

Cardano News Today – Last week, following the Hydra upgrade and the announcement about the upcoming Byron update, the price of Cardano ADA gained some ground against the USD and Bitcoin. The bulls were able to push the price as high as $0.0299 during mid trading on Sunday. Overnight, the ADA token took a nosedive losing up to 6% of its value within less than 24 hours. The price of the token, which has been trading within the $0.026 and $0.031 fell from $0.0299 to $0.028 within a few minutes.

Cardano Price Analysis – Cardano ADA Price Suffers Price Fluctuations

When the price of Cardano ADA was rising, we predicted that it was going to suffer a bearish set back shortly after the surge. This isn’t unusual in the cryptocurrency market. However, with the current price trend on the chart, it’s unclear if the price of the token is going to make any significant recovery anytime soon. On the 27th of March, the price of the Cardano ADA token managed to move as high as the $0.031 level where it faced significant resistance.

Cardano News Today – As the downward price trend from $0.031 commenced, there were upward spikes in between. During the weekend, the upward movement became more than just spikes and appeared more sustainable. This morning, the price of Cardano ADA started trading at $0.0299. However, about 6 hours into the day, it fell by more than 3%. After a while, the price fell by another 1.46% against the USD. Before the 27th of March, the upward movement was relatively stable. However, the price fluctuations took the price to $0.028112 and lower again to $0.028081. This is the lowest point the price has fallen this morning as the overall price trend is currently bearish.

Cardano (ADA) Price Today – ADA / USD

NamePrice
cardano
Cardano
$0.082

The price of Cardano ADA current has short-term moving averages at 20 and 50 days. The Relative Strength Index is at 53.64 points. At the time of writing, the price of Cardano ADA was $0.029172. Even if it has moved higher than the initial $0.028081 low, it is still down by 0.98% against the USD and down by 2.06% against Bitcoin. The trading volume over 24 hours is $80,483,082 and the market capitalization is $756,345,033. The next few hours of trading will determine if the sentiment will become bullish or at least stable anytime soon. If things don’t get better today, you should not make any rash decisions until later in the week.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.

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