Cardano (ADA) Suffers Another Tumble As The Price Dips Amid Altcoin Slump

Cardano ADA continues to slip as we round up the second week in August. The opening days of the month saw a slight rise in the value of the coin but the sustainability of the growth has been the bane of the coin. It has been a difficult period for most coins in the cryptocurrency industry and Cardano ADA has followed the downward pattern of the other coins.

Cardano News Today – Cardano Price Prediction 2019 – ADA Price Prediction – Cardano Price Analysis

Cardano ADA lost up to 6% in the last 24 hours and the value has dipped from $0.0506 to $0.0480. This fall in price didn’t come as a surprise to cryptocurrency researchers and analysts as the Cardano ADA price prediction made foresaw the coin bowing to bearish pressure. Researchers do not see the coin pushing out of the present bearish trend in the next couple of days. Other ADA price prediction sees the coin dropping to below the third support level of $0.0414.

Cardano (ADA) Price Today – ADA / USD

NamePrice
cardano
Cardano
$0.036-6.21%

The coin’s tumble in the last 24 hours saw it oscillate from $0.052 to $0.047. It managed to climb back to $0.049 but towards the end of business last night to decline to a low of about $0.041. The coin again rose slightly during the early hours of business today and finally settled at $0.048. The coin’s present position is uncertain as it could find support in the next level and make a slight increment or it could drop under bearish pressure to the lower support level.

The resistance levels for Cardano ADA are $0.0506, $0.0536 and $0.0555. The support levels are $0.046, $0.044 and $0.041. The future outlook for the coin doesn’t look too promising and there are speculations that the coin may drop in price before the end of the week. This means that immediate investors will most likely not touch the ADA until it begins to show signs of pulling out of the present slump that it has entered. This could further drive the ADA down in price and make it fall beneath the third support level.

Cardano News Today – Cardano Price Prediction 2019 – ADA Price Analysis – All Is Not Lost For The ADA In The Long Term

Cardano ADA news learned that the future Cardano price prediction seem favorable for Cardano. Analysts see the present position of the 13th ranked cryptocurrency coin to be short-lived and believe that the coin is still profitable and a good asset for investors. The ADA price prediction for 2019 sees the value of the coin reaching $0.050. More enthusiastic analysts project that the coin will reach the $1.00 mark by 2020. The ADA has only crossed the $1.00 mark when it had an all-time high of $1.33 on January 2018. It had an all-time low of $0.017 in October 2017.

ardano ADA has a Return On Investment (ROI) of 128.32%. While this may be seen as an increase, it does not stand favorably with other coins in the cryptocurrency market. The market cap for the coin is about $1.2 billion while there are 25 billion ADA in circulation. ADA 24-hour volume trading rests at $49.3 million.

What do you think about the Cardano (ADA) price prediction 2019 in our Cardano news today? Share your thoughts 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.

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