Cardano (ADA) Latest Update – Cardano Price Analysis Show Heavy Bearish Pressure For ADA

Cardano News Today – The cryptocurrency market has had a very rocky couple of weeks. There was a slight reprieve at the beginning of August as the price of the leading cryptocurrencies rose up. Unfortunately, the expected high didn’t last and most altcoins didn’t enjoy the slight reprieve. The slump in the price of cryptocurrencies like ADA, XLM and others is discouraging because the Cardano price prediction 2019 was bullish at the beginning of the year.

Cardano News Today – Cardano Price Prediction 2019 – Cardano Price Analysis – ADA Continues to Slump

Cardano ADA is one of the cryptocurrencies that still feels the pressure of the bears pushing it down. The last two days have seen the ADA slip as the price plummeted. Though volatile, the dip in price went against ADA price prediction favoring an upsurge into a more comfortable zone. Analysts and cryptocurrency researchers believe that as long as the cryptocurrency market remains volatile, altcoins like Cardano ADA will find it difficult to main a bullish trend. They also believe that the volatility of the market may cause a lot of projects to fail.

Cardano ADA price analysis carried out by researchers showed that the bearish pressure on the ADA was stronger than the bullish pressure. This trend is made obvious as the ADA seems unable to pull out of the bear zone it is currently in, as it is lacking support levels that could help it maintain some positive values. Though there was a 0.59% rise as the ADA traded for $0.0506 today as against $0.0505 the previous day, the gain cannot be seen as bullish as Cardano ADA price prediction show bearish pressure that may likely push the price to a lower support level.

The shift from $0.0505 to $0.0506 is not sufficient enough to push ADA out of the bearish zone and the high volatility of the coin makes it harder for the coin to rise. Analysts believe that even if the ADA rises sufficiently to cross the next support level, it would not be able to maintain that advantage for long. Regardless of the volatile nature of the cryptocurrency market at present, analysts and researchers give a Cardano ADA price prediction of the ADA trading for $0.3 by the end of the year.

Cardano News Today – Cardano Price Prediction 2019 – ADA Price Prediction – ADA News Today – All May Not Be Lost For The ADA

Cardano ADA showed a Return On Investment of 138.20% which in the cryptocurrency industry means that the ADA was still struggling to show a profit. ADA has close to 26 billion coins in circulation and a market cap of over $1.6 billion. Its 24-hour trading volume stands at $48.1 million. The major resistance levels are $0.053, $0.054 and $0.055 while the major support levels are $0.050, $0.049 and $0.048.

Cardano (ADA) Price Today – ADA / USD

Name Price
cardano
Cardano
$0.0470.574%

Overall, the Cardano ADA, the 13th ranked coin in the cryptocurrency market has started showing growth but the ADA price prediction shows that it could cave in at any time. Having a positive outlook regarding the ADA at this point may not be ideal but that doesn’t mean that Cardano ADA is out of the cryptocurrency race. It is expected that in the long term, the coin might produce results and climb to a more stable nature. So for long-term investors, Cardano ADA may not be a bad investment.

Do you think there is any hope for Cardano (ADA)? Share your thoughts about the Cardano price prediction in the comment section below.

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.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.