Cardano News Today – October 8th, 2019 

  • Will Cardano Maintain its Current Upward Surge and Attain Consistency?
  • Cardano Has Been on the Rise Over the Last 5 Days

The price of Cardano has taken a shift in the positive direction. Following a torrid period the coin has revived itself in recent days. However, one common problem with digital assets is maintaining consistency when it comes to price surges. Now ADA appears to have held an upward action for an extended period. Let us see an analysis of the ADA price action.

Cardano Has Been on the Rise Over the Last 5 Days

Per the hourly chart of the ADA/USD pair, we can see that price of Cardano has moved upwards in the last five days. When you compare the performance of the digital currency through the past 5 days, you will see that the upward movement continued to today, October 8.

As of October 2, the price of ADA stood at $0.038521. The coin’s price continued to rise from then (although the next day the price dropped). At the time it even traded as low as $0.037515 to October 4. On the same day, the price of ADA managed to get to its highest trading price, which was $0.040330.

Cardano (ADA) Price Today – ADA / USD

NamePrice
cardano
Cardano
$1.30

Further analysis of the charts show that currently, ADA price indicates a bullish run of about 3.79%. At least this is the case when you compare the current price levels with the least trading price for the coin from October 4. Now, on October 8 it is sitting upwards and likely going to move higher in coming days.

When you look closely at the price movement of ADA, we can anticipate that this current trend will likely continue to October 9. Additionally, this will be a bright spot for Cardano (as the coin continues attaining new heights amidst the bearish sentiment).

Cardano Price is Expected to Reach $0.03812000/$0.03885000 Today

Digital currency analysts’ expect the price of Cardano to trade between the ranges of $0.03812000 and $0.03885000 before the day runs out. Regarding the price action of the coin in the last 5 days, we recommend that you enter trading with a long-term goal.

This is because, Cardano will likely yield gains in the long-term. And this suggestion is backed by the MACD indicator. The MACD indicator reflects a bullish trend for the ADA coin above the zero level. While the RSI (relative strength index) of the coin is close to the 60 level. This is an indication that there are no extremities for the coin currently.

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