Cardano ADA price may be in trouble again as the cryptocurrency has fallen below significant support levels against the USD and BTC. In our previous Cardano news, we talked about how the Cardano price prediction 2019 is bullish against the USD and how the ADA token stands a chance to hit $1 this year and even higher in the next two years. Well, the fundamentals show that the Cardano price prediction 2019 is still bullish long-term. However, ADA is losing is recent gains against the USD and is at risk of falling even lower near-term. What is Cardano falling? Is Cardano dead?
Cardano Price Prediction 2019 – Cardano News Today – ADA News Today – Cardano Falls Significantly Against The USD – Is Cardano Dead?
This morning, the price of ADA took a serious hit against the USD. This downside price action of Cardano is all thanks to the flagship cryptocurrency, Bitcoin. Bitcoin has fallen from the $8000 level to about $7600 within the last two days. The massive sell-off is discouraging and it is affecting altcoins as well. Cardano isn’t falling in isolation but it is one of the worst performing altcoins in the space. Against the price of BTC, Cardano formed a bottom around 1080 satoshis a while ago, after that, it started surging and enjoyed a bull run for a few days. Everyone in the Cardano community was excited about the bullish momentum and expected that the Cardano price prediction 2019 was materializing. Unfortunately, the case changed and the price of ADA started trending bearish against the USD and BTC.
For more than four days, Cardano ADA price has been stuck in a descending trendline and is now hovering above the 1005 satoshis level. If the price of ADA continues to fall, it will fall below the support at 912. On the upside, for the bull run to continue, the price of Cardano ADA must rise above the 1060 – 1076 level soon. At this time, the odds of recovering above these levels are slim. However, if the price of Cardano ADA is able to achieve it successfully, it will rise to the 1300 level and eventually hit the 1945 level which was the breakout point of our previous Cardano price prediction 2019. Crossing this level will the the enough to confirm the bull run.
Near-term, the price of Cardano ADA is bearish. The moving averages are all in a descending channel with no evidence of a bullish crossover anytime soon. Even if the price of Cardano ADA isn’t doing well now, it is important to note that it is up significantly from its crypto winter low of about $0.023. With the Cardano Shelley upgrade, Cardano partnerships, and general positive sentiment in the market, the price of ADA will recover eventually.
Cardano Price Prediction 2019 – Cardano News Today – ADA News Today – Cardano ADA News – Current Price Of Cardano ADA
At the time of writing, the price of Cardano ADA was $0.076215. This means that it is down by 7.15% against the USD and down by 4.05% against the price of BTC. The trading volume over a 24 hour period is $134,036,929 and the market capitalization is $1,976,039,547. The next few trading sessions will determine how low the price of ADA will go.
What do you think about the Cardano price prediction 2019 in our Cardano news today? Share your thoughts in the comment section below.