Is Cardano Set to Be The New Promising Coin In The Crypto Market?

If you are searching for the most promising digital asset to invest for the coming month of June, then Cardano may seem like an excellent option. You can see from the charts that the coin has shown great promise in the past 5 days. This just shows that ADA is actually among the most promising altcoin for the year.

Emurgo, one of the drivers of the adoption of Cardano, recently tweeted about an event that’s going to happen in June. Charles Hoskinson, the Founder, and CEO of Cardano Foundation was invited. The event is scheduled to happen in Emurgo’s Japan office. During the program they will be introducing three new companies that will spherehead the expansion of Cardano’s Blockchain.

With this recent development, it is safe to say Cardano is set for a bull run. But how has the price of Cardano performed today?

Cardano (ADA) Price Today – ADA / USD

NamePrice
cardano
Cardano
$1.54

Cardano Price Prediction 2019: The Price of Cardano Was Trading at $0.0840 as of May 31 – Cardano Price Forecast

As of press time the price of Cardano was trading at $0.0840. The coin had a return on investment of 287.63%. Cardano is currently the number 11 largest coin by market cap. This year has seen the price of Cardano tremendous upward movement. The market capitalization of ADA was $2,178,638,402 at press time with 24-hour trade volume at $208,461,674.

Traders and investors alike are analyzing ADA’s short and long term value. The long-term stats may bring real numbers. But since crypto is expanding in the short term, Cardano might also be pulling some positive trades.

Cardano Price Prediction 2019: Comparing the Price of Cardano From 30 Days Earlier to the Present Levels – ADA Price Analysis

Comparing the data from last month to May, May 10 saw the price of Cardano reach its lowest point at $0.05909. However, when you compare this figure to the current levels you will see a 42% increase in the value of the coin. This means short term investments can be viable for ADA as well.

The highest point for the price of Cardano was realized on May 16 when ADA hit $0.1. The price of Cardano has dropped by 16% now when compared to its highest point from the 16th of this month. The traders seem to buy the idea of maintaining their investments for both long and short term gains. Only time will determine this.

Cardano Price Prediction 2019: The Price of Cardano Appears Bullish in the Last 30 Days  

According to the last 30-day analysis of the price of Cardano, the Bullish nature of the coin has been obvious. The number of trades on the network appears to have increased which might also improve the position of ADA as well. Traders may watch out for resistance at $0.102 and support at $0.07 to be on the safe side of things.

The price of Cardano might go higher after the Emurgo event in Japan. However, going by the market’s current position, it might be a risky proposition to bet on the price of Cardano to touch $1. For a clearer picture of how events could playout, we can only wait and see what the coin has in store.

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

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