Cardano ADA Bounces Back Rising By Over 6% Outperforming Bitcoin Following Bearish Fall

Cardano

Cardano News Today – The cryptocurrency market is known globally for its high volatility. The price action of cryptocurrencies starting with Bitcoin is totally unpredictable. One minute, the prices can be surging while the following minute they can be falling. This is exactly what happened to Cardano ADA today. The cryptocurrency fell significantly but subsequently started moving higher against the USD and BTC rising by over 6% within a few minutes. The Cardano price prediction 2019 in our Cardano news was bullish at the beginning of the year but the overall bearish pressure in the cryptocurrency market doesn’t seem to favor the token anymore.

Cardano News Today – Cardano Latest Update – Cardano Price Surges After Falling Significantly Within The Same Period

This morning, the price of Cardano ADA fell significantly against the USD as there was no support to hold the cryptocurrency from experiencing a decline. The trend remained bearish for hours with no recovery in sight. The fact that the cryptocurrency has fallen from the $0.100 despite the Cardano Shelley upgrade and every other major development by the Cardano Foundation is discouraging. Ever since it dropped below $0.100, it has faced a steady decline.

Cardano (ADA) Price Today – ADA / USD

NamePrice
cardano
Cardano
$0.039-5.08%

The more the price of Cardano ADA falls, the more difficult it is for it to recover. The Cardano price prediction 2019 in our previous Cardano news placed the price of ADA as high as $0.3 by the end of the year. However, with the current price action of the token, the chances of the cryptocurrency moving this to this level are now slim. It is still important to note that the volatility in the cryptocurrency space can quickly take the price of cryptocurrencies higher against the USD. So, there is really no way to predict the trend in the coming months.

Cardano (ADA) Price Today – ADA / USD

NamePrice
cardano
Cardano
$0.039-5.08%

Shortly after the price of Cardano ADA fell against the USD, it started to rise moving higher by more than 6%. At the time of writing, the price of Cardano ADA was $0.049989. This means that it is up by 6.58% against the USD and up by 6.36% against the price of BTC. The trading volume over a 24 hour period is $50,233,023 and the market capitalization is $1,296,067,789. Bitcoin is currently struggling to hold the support at $10k thanks to the market-wide volatility. If BTC moves back to the 9k level, there is a high chance that it will retest $8.5k if care isn’t taken. Right now, investors are trading with caution and hoping that the volatility of cryptocurrencies will drive them upward soon.

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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