Cardano (ADA) Up By Over 8% After The Appearance Of Massive Buy Signal, More Gains Likely Before A Correction

During the weekend, the ADA Cardano news was about the bearish Cardano price. Apart from Cardano ADA, almost every other cryptocurrency on CoinMarketCap was trading in red against the USD. The sell-off cost the market over $6 billion in market capitalization. One Cardano news site reported that the price of Cardano ADA would bottom out during the bear run in its Cardano ADA price prediction 2019. Before the end of trading yesterday, the entire market started recovering. The price of Cardano was surging faster than many other cryptocurrencies including the flagship cryptocurrency, Bitcoin.

ADA Cardano News – ADA Price Prediction – Cardano ADA News – Cardano ADA Up By 8% Sees Higher Highs Short-term

The buy signals for Cardano have been strong since the beginning of the year according to the Cardano price analysis on Coinclarity. On the third of April, it hit a 9-month. However, it dropped significantly since then as the entire market started correcting lower against the USD. On the 21st of April, the price of Cardano fell significantly lower against the USD and some analysts called this a bottom. For up to seven days, the price of ADA closed lower than its opening price. However, the tides changed yesterday and the coin started surging against the USD. This is the second longest duration of lower daily closes in the coins history. Considering the fact that the Cardano price prediction 2019 is bullish, these past seven days have been difficult to understand.

As the price of Cardano fell over the last seven days, there was also a corresponding fall in daily volume. The volume dropped shortly after reaching the 9-month high at the beginning of the month but moved higher on the 14th of April. There was evidence of a hidden bullish divergence from the Cardano ADA USD and BTC price action. The current price level of Cardano ADA is a difficult one. It is often followed by swift price action either upward or downward. Yesterday, when the price of Cardano started moving upward, it was clear that it had taken a stance. However, this can quickly be followed by a downward turn.

Cardano Price Prediction – Cardano News Today – Current Price Of ADA

At the time of writing, Cardano ADA was trading at $0.080034. This means that it is up by 9.26% against the USD and up by 4.51% against the price of BTC. The trading volume over a 24 hour period is $106,401,031 and the market capitalization is $2,075,045,273. This moon phase may continue for the rest of the day and Cardano may accumulate double digit gains. The price of the Cardano has bottomed out and we all know that a bottom is often accompanied by a spike in price.

Cardano (ADA) Price Today – ADA / USD

Name Price24H (%)
Cardano (ADA)
$0.052410
-10.56%

The price of Bitcoin at this time is $5,549.97. This means that it is up by 4.76% against the USD. The trading volume over a 24 hour period is $16,133,975,997 and the market capitalization is $98,016,108,625. The price of the flagship cryptocurrency is struggling to find support at the $5500 as it continues its gradual rise to $6000. If Bitcoin holds the bullish momentum, this would be beneficial for all altcoins including Cardano.

What do you think about the Cardano price prediction 2019 and the current price of ADA in the Cardano news today? Share your thoughts in the comment section.

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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