Cardano Falls 10% Due To Bearish Pressure In The Market, How Low Will Cardano Go?

Cardano News Today – On Tuesday, by 09:14 GMT, Cardano was trading at $0.055782. With a dip of 10.16 %, the price was the highest one-day percentage loss recorded since July 16. The plunge lowered Cardano’s market cap down to $1.45123B, which is 0.53% of the entire cryptocurrency market cap. Previously, Cardano had recorded a market cap of $23.91700B at its highest price.

Cardano News Today – Cardano Price Prediction – Cardano Price Analysis- Cardano’s Recent Dip

Though Cardano price was in the range of $0.055740 to $0.059550 in the last 24 hours, the altcoin has lost 4.02% in the past seven days. The fall in its value has negatively affected its market. The volume of the crypto asset traded within 24 hours to the time of this report was $60.87418M. This volume of Cardano represents 0.11% of the total volume of all the digital currencies.

Cardano (ADA) Price Today – ADA / USD

Name Price
cardano
Cardano
$0.049-1.47%

Cardano Price Analysis indicated that the crypto asset has traded within the range of $0.0500 to $0.0650 in the last 7 days. Considering Cardano’s all-time high of $1.35 recorded on January 4, 2018, the cryptocurrency’s current price is down by 95.87%.

Cardano News Today – Cardano Price Prediction 2019 – ADA Price Analysis – Leading Cryptocurrencies in the Crypto Marketplace

Though Cardano is currently witnessing a bearish trend, the top crypto assets aren’t recording highs on the trading platforms. Bitcoin is down 7.51% on the day as it traded at $9,954.5. Similarly, at $209.01, Ethereum recorded a loss of 6.58%. Just like Cardano, these crypto assets also recorded a fall in their prices.

However, Bitcoin’s market cap at the time of reporting was $177.87902B. This value represents 60.94% of the total cryptocurrency market value. Also, with 8.22% of the total cryptocurrency market cap, Ethereum’s market value was totaled at $22.52744B.

Previously, EMURGO, the commercial branch of the Cardano Foundation, joined the Chamber of Digital Commerce (CDC). This partnership is expected to encourage the adoption of the crypto asset ADA and the blockchain solutions offered by the Cardano Foundation. It will also boost the value of the digital asset.

Cardano Price Prediction – Cardano News Today – ADA Price Analysis – Will Cardano Recover?

Cardano Price Prediction suggests the possibility of highs in ADA’s price. However, the current market scenario isn’t optimistic. The market situation is pulling the crypto asset down. Consequently, the current bearish trend isn’t a good time to trade Cardano (ADA). However, investors are likely to get substantial returns from the cryptocurrency in the long term.

Earlier this week, Cardano (ADA) made a good start. The coin gradually recovered from its sluggish trends. There were expectations that the coin may close at a higher level by the end of this week. A further price increase was also expected before this month runs out. However, the coin recorded a down of 1% at 06:21:08 UTC on July 22, 2019. The price of the crypto asset has fallen from $0.063855 to $0.062027.

Despite the short term bearish trends, Cardano (ADA) may move upwards and close on a better note by the end of the month. Cardano Price Prediction suggests that the coin may hit $0.120 by next month. It may be an ideal time to invest in Cardano (ADA) if the recovery continues.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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