- ADA Is Getting Comfortable In The Bearish Zone, Will There Be a Change Soon?
All altcoins, like ADA, are currently running at a loss because of its unpredictable fluctuations in the crypto market. The unstable and frenzied nature of bitcoin also influenced the trading price of ADA regardless of its potentials. Several crypto analysts have predicted that no new blockchain similar to Altcoin like Cardano is likely to break even until there is an improvement in the trading price of most Altcoins.
ADA is currently experiencing a fluctuating trading price, the trading price has failed to break resistance and has been on a steady decline. Even though the little surge was temporary as the coin has gone back on a snail pace. Recently, Cardano trading price has been going through various price fluctuations as seen from the 90-day price chart. Cardano’s ADA has had a good Q1, which raised the prospects of its traders and investors community. The crypto market instability changed the narrative of the coin and the coin went on a downward trend from July. The 90-day price chart fluctuates in the range of $0.04 – $0.07.
Cardano Vs. USD Price Analysis
Cardano’s price has experience different fluctuating price trends as seen from the 90-day price chart. As of July 20, the trading price was at $0.0652, with the current bearish price movement in the crypto market, the price instability for ADA persisted and the price decline to $0.0473 on Aug 15. The price movement was up to 27.61%, while on August 25th, the price surged up to $0.0516, when the price indicates an upward price movement of 8.70%.
As of September 11, 2019, the Cardano trading price again declines to $0.0459, the downward trend as a result of 13.57%. The trading price surged again on 18th September 2019 to $0.0526, the upward trend was as a result of 18.47%. While on the 7th of October, 2019, the price went back to its downward trend due to the influence of 26.07%, at $0.0389. Currently, the trading price is at $0.0380, which indicates a lesser price movement to the extent of 2.31%.
Cardano (ADA) Price Today – ADA / USD
Name Price $0.098
The trading price of ADA is under the grip of the bears in the crypto market, the bear movement is not giving room for the trading price to make a recovery, and also it has been putting pressure on the price of ADA. If the bearish price movement should persist in the market, the trading price of ADA will likely decline further.
Several analysts have concluded that the bulls are waiting for the perfect period to take over the market. And they advise that investors should take advantage of the market fluctuations to amass a long-term profit.