- 4% Decline Recorded From Cardano’s Weekly Price Chart
- Long-term Benefit For Patient ADA Traders, Analyst Predicted
In the past week, Cardano’s ADA recorded a downtrend in the trading price movement. The crypto market, in general, has been on a steady fluctuating price movement since the start of the month. Cardano is not left out of this price trend as the coin recently recorded a 4% relapse in its weekly trading price. With the current price trend, it seems like the momentum will persist for some days, but due to the heavy price fluctuations, there seems to be the prospect that the coin could seek a major price recovery. Currently, Cardano seems to be approaching price recovery, although the weekly trading price shows a different price movement.
As of 20th October 2019, ADA coin trading price was trading at a relatively high level at $0.039672 and low at $0.037832. Previously, on October 13, the trading price of ADA was at $0.04066, the price progressed from $0.04066 to $0.04082 by 0.039%. The following day, ADA increased to $0.4182 by 2.45% increment, subsequently the next day, the price decreased to $0.3972 by 5.02% decline. On the 16th of October, ADA retained the downward trend and reached $0.03830 by 3.58%. The next day, the trading price of ADA experienced a surge of 2.77% and increased to $0.03936. Then, the price declined to $0.03800 by 3.46%. Yesterday, ADA coin experienced a price recovery that saw the trading price to $0.03903 by 2.70%. Currently, there is a slight decline to the trading price as ADA is trading at $0.03849.
Long-term Benefit For Patient ADA Traders, Analyst Predicted
ADA’s market cap is around $1,006,740,120, the 24-hour trading volume is at $40,404,760. The circulating supply is currently at 25,927,070,538 ADA while the ROI is at 79.12%, although, as of yesterday, the volume was at $40,431,591. Going by the current price trend, it appears that Cardano is seeking price recovery and it is attempting to reach the next resistance of $0.039. Nonetheless, should the ADA price takes an unexpected price movement, then it may encounter the next support at $0.0381.
Cardano (ADA) Price Today – ADA / USD
| Name | Price |
|---|---|
 | $0.00 |
The estimated resistance and support levels for Cardano goes thus: Resistance level, R1- $0.039987, R2 – $0.04075, R3 – $0.039987, Support Level – S1 – $0.038147, S2 – $0.03707, S3 -$0.036307. Several analysts still believe that there is still hope for ADA to improve in the future as the coin will give good profits to long-term traders.
Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.
