As earlier reported, the digital asset market started with many top tokens in the red zone. Stellar token, and XRP along with a number of top assets experienced huge losses on the day. Now, the charts analyzing trading for the ADA/USD pair is showing that Cardano dropped no less than 12% in the last 24 hours. The coin is now going through a difficult period in the digital currency market. Will ADA bounce back? Will Cardano ever recover?
Cardano (ADA) Price Today – ADA / USD
Cardano Price Prediction: ADA Price Is Not Seeing Much Growth
Cardano ADA slumped from the $0.078 position to trade at the $0.065 level in only 24 hours. ADA may close trading for the day trading as low as $0.070. The digital asset has been having one of the slowest days in the week. The price of the coin dropped to a new low of about $0.065 in the past few days alone. The current action for Cardano shows that the coins market performance does not necessarily bring any respite to traders. The ADA price might actually need time to come out of its current slow trend and rise back up.
Cardano Price Analysis for the Last 24 Hours
At the beginning of trade yesterday, the price of Cardano started moving at the $0.078 level. Later on, it started dipping from that price point to reach a 24 hour low of $0.071 at the beginning of trade today. The price of the coin further dropped to hit the $0.062 position showing no less 12% dip in prices. However, the coin started a recovery and is currently trading at the $0.065 level as of when this report was published.
The total market capitalization of the coin is currently listed at $1,695,888,626 by coin market cap. The coin has a 24-hour trading volume of $128,247,965 and returns on investment of 202.75%. The ADA coin had a circulating supply 25,927,070,538 ADA per coin market cap.
In the last 24 hours alone, ADA has reportedly recorded a downward action of over 16% from its $0.078 value. The coin actually closed trade yesterday at the $0.071 level. It might close today at the same value if history is to be applied.
Cardano Price Prediction 2019: What To Expect from ADA Price
The price of ADA may continue to move in this current slow pattern for at least an additional day. It may eventually start gaining upward price movement later in the weekend after the above prediction. the price of ADA may start trading over the $0.082 position from next week moving forward. The price of the coin may reach the $0.085 mark by the end of this month and get to around $0.3 or the area $0.5 by year-end.
This is actually a good time for investors to weigh their options and invest in the ADA token in bulk amounts. This is because the value of the coin is expected to improve in the near future. Hence it is recommended that holders of ADA save for that time in the future when the price of the coin increases if they want to reasonable gains. However, this is purely speculative. Only time will tell if volatility will not cause lasting damage.
Brian Lubin is a Crypto News Reporter for Smartereum. He's well-known for his reports on the crypto markets.