Cardano News Today – Cardano ADA Moves Back Above the $0.0180 Level After Facing Intraday Correction – June 21st, 2020 

  • Cardano ADA Retests the $0.0180 Level After Intraday Price Correction to $0.0760
  • Cardano ADA May Fall Back to the $0.0550 Level if the Recovery Doesn’t Kick in Soon
  • Testing the $0.0950 Level Will Lead Cardano to Hit $0.105 for the First Time in Forever 

Cardano News Today – Cardano has been stuck in a rut for the last 10 days since the bulls lost momentum against the USD. After gaining steadily since the beginning of the year, the Cardano ADA token started losing its gains. Thankfully, the token found strong support and has maintained more than 50% of its year-to-date gains. Yesterday, the price of Cardano ADA reached a Daily high at $0.081 but staying above this level was difficult. Shortly after, as expected, the boost was followed by a decline that pushed the price of Cardano ads below the long-term $0.0780 support. It wasn’t until after the token fell as low as $0.076 that it started to recover once again.

Cardano News Today – Cardano ADA is Below the 9 and 20-day Moving Averages

As the price of Cardano ADA faced intraday lows, it fell below the 9-day and 21-day moving average. The bears took charge of the market and a sideways trend was ignited. At the same time, there is still a strong possibility of a price surge even if the details of this surge aren’t clear yet. If the token is to move above the moving averages, we will most likely experience a surge. If this happens, there is a strong chance that the token will move as high as $0.095. The $0.095 level is the only key resistance before $0.1000. After the token moves above this level, it may test $0.105. If the bears retain control of the token, on the other hand, it will fall as low as $0.065 and it will keep moving lower until it gets to the $0.055 level.

Cardano (ADA) Price Today – ADA / USD

NamePrice
cardano
Cardano
$0.098

At the time of writing, the price of Cardano ADA was $0.080016. It is up by 1.83% against the USD and up by 1.16% against Bitcoin BTC. The trading volume over a 24 hour period is $159,263,264 and the market capitalization is $2,074,567,630. Against Bitcoin, Cardano ADA has found strong support at the 760 SAT level while the strongest resistance is at 950 SAT. From the MACD and relative strength index, the price of the ADA token is currently bearish. With the Cardano Shelley mainnet launch on the way, we can only hope that the token will recover higher against the USD. Things may get better before the end of the coming week.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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