The Price of Cardano (ADA) is Bearish in the Short-term, Breakout Coming Soon

Generally, the atmosphere around the crypto market has been fair except for a few price fluctuations here and there. One constant is a series of short-lived bullish movements. Many of the top digital assets have risen and declined in recent days. While Bitcoin had opened the way for the top digital assets to rally forward since the start of April, the somewhat short-lived rally has stalled in most of the top coins. One of such is the price of Cardano. However, it appears the price of Cardano is bearish in the Short-term.

Cardano (ADA) Price Today – ADA / USD

NamePrice
cardano
Cardano
$0.0443.98%

Cardano Price Prediction 2019: Current Market Stats For the Price of Cardano

Cardano is designed to facilitate complex programmable value transfers. It offers total security with scalable transactions. Cardano is built on the Haskell programming. The network was developed by a team of leading engineers and professional researchers. The digital asset aims to prepare a democratic payment solution that will have the power to take over the existing traditional payment system.

Cardano is ranked number 10 among the list of the largest cryptos in the market. The digital asset has an ROI of 233.59%. The total ADA in circulation is 25,927,070,538 ADA. Cardano is trading at $0.074381. It is up by 0.41% with a market cap of $1,928,488,104 as of press time. Cardano has a trading volume of $81,751,440 according to data given by CoinMarketCap.

Cardano Price Prediction 2019: The Price of Cardano Began 2019 at $0.04

The price of Cardano (ADA) started 2019 with a low value at $0.040. The journey hasn’t been consistent for the price of Cardano from that time to this day as the price of ADA has reached its highest level following the April 1 boom. Before that period it the digital asset has been subject to numerous ups and downs. With its lowest price $0.037 attained on February 1 this year. We can see that the price of ADA has grown somewhat since starting 2019 on a low note. But sadly it appears the bulls will soon part ways. Cardano may be bearish in the Short-term.

Cardano Price Prediction 2019: The Price of Cardano is Bearish in the Short-term

As the price of Cardano is hovering around $0.07, there’s the tendency that it may fall to $0.05. Cardano is on the path to form a price correction following the unprecedented April 1 boom. After it managed to reach the desired level, the digital asset should go up in the medium and long-term. The price of Cardano should be above $0.06 to $0.07 by the end of this quarter. The resistance should be faced after $0.007. The Cardano Price Prediction 2019 goes with a higher score of $0.05. By 2020, the price of Cardano should move above past $1.

It is recommended that short term investors wait for a while to see what the final phase of the price correction will show. For medium-term and long term holders Cardano is bullish. Investors may expect more profit if they decide to hold onto their investments for at least a year or more.

Brian Lubin is a Crypto News Reporter for Smartereum. He's well-known for his reports on the crypto markets.

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