The price of Cardano is bearish against the USD with supply zones at $0.2000, $0.1800, $0.1600 and demand zones at $0.0001, $0.0300, and $0.0600. Long-term, the chart is bearish and the journey south that started on the 5th of September is still active. On the price chart, a bearish engulfing candle which closed below the 10 EMA has dropped the price of ADA to $0.08252 which is in the demand area. This candle is sustaining the bearish pressure.
Cardano (ADA) Price Today – ADA / USD
This morning, the price of ADA was below the two EMAs and the stochastic oscillator was at 17% in the oversold region. It was pointing down to show that there is still the possibility of a downward fall in price due to the increased bearish pressure. This is according to the price analysis of Azeer M on Bitcoin Exchange Guide.
Cardano (ADA) Price Analysis Now!
At the time of writing, Cardano was trading in green at $0.068709. This indicates a 1.59% rise against the USD and a 1.66% rise against Bitcoin. The trading volume within a 24 hour period is $31,834,126 while the total market cap is $1,781,417,825. The next few days of trading with determine if the price action of Cardano will change or not.
Over the last few months, cardano has had a rough time. The dramatical fall in price has not reduced to worth of the platform. Cardano still remains one of the best new generation blockchains in the industry. The developments on the way, the affordable price, the strong community support and the fact that Cardano has made developing countries its target market has contributed to the success of the coin. If you’re going to buy any coin in this bearish market, you should buy cardano (ADA). With little capital you can buy a reasonable number of coins and make profit later. You can also host your projects on the Cardano platform.