- Cardano ADA surged by 5.62% within 24 hours.
- Analyst suggests that the price of Cardano ADA may move higher in the coming weeks.
Cardano News Today – Cardano ADA, just like every other cryptocurrency in the market, has fallen significantly against the USD. At the beginning of the year, Cardano ADA enjoyed a bull run that took the price above the $0.1000 level. At the time, analysts said that the surge in price was due to anticipation regarding the Cardano Shelley upgrade. Cardano Shelley is the long-awaited upgrade that is going to make the Cardano blockchain 100 times more decentralized than Bitcoin. This is expected to be the last upgrade that will set the stage for Cardano to be a more ideal option than Ethereum.
Cardano ADA Rises By 5.62% Against The USD Over 24 Hours
Yesterday, the price of Cardano ADA increased by 5.62% during the day. It reached $0.047 for the first time in a while. The cryptocurrency analyst on International Cryptocoin claims that the price of Cardano will reach higher highs near-term. The analyst suggested that ADA will reach the $0.0517 level before the end of the week. Over the last 48 hours, Cardano has formed resistance at $0.04800 and support at $0.04423. The analyst also suggested that the highest price for ADA near-term is $0.08911. Reaching the $0.1000 now appears like a long-term goal.
Cardano (ADA) Price Today – ADA / USD
Last week, as reported by smarttest.wpmudev.host, the founder of Cardano, held an emergency AMA session where he tried to convince the Cardano community that the Cardano Shelley upgrade on the main net will hold as scheduled. However, members of the community were not satisfied because the price of Cardano ADA was falling significantly despite the buzz surrounding Cardano Shelley. Because the Cardano ADA token is down by more than 47.26% over the last 100 days, it’s not a surprise that the community is upset with the Cardano development team.
At the time of writing, the price of Cardano ADA was $0.046395. This means that it is down by 1.11% against the USD and up by 1.55% against the price of BTC. Yesterday’s bullish momentum could not be maintained because the price of Bitcoin fell yesterday, dragging the rest of the market, including Cardano, along. Right now, Cardano is following Bitcoin’s lead. If the price of Bitcoin can rise against the USD before the end of today, it will most likely carry Cardano and other altcoins along.