Cardano has taken advantage of the overall bullish trend and managed to get a push of 2.41% value in the last 24 hours. Despite huge price volatility, ADA coin seems to have become one of the best choices for intraday traders for its continuity in growth.
Cardano Faces Correction Amid Bullish Trend
ADA coin opened the day at $0.056121, and in the next two hours, it went through a moderate downward correction of 2.34% and pulled down to $0.054809. It was followed by a 6.66% hike that added $0.003650 in the value and pushed Cardano price to $0.058464 by 11:06 UTC. Since then, the currency has been trading with a downside momentum. By 00:06 UTC today, ADA price has been dropped by 5.41% to $0.055295. However, over the last hour, there has been a marginal improvement in the price.
Cardano’s current price at $0.057476 has managed decent leads over its 50 days MA ($0.056901) and 20 days MA ($0.057173). As per the current intraday movement and ADA prediction, the coin may trade moderately downside and find the next support around $0.054 soon. However, the overall trend is a bullish one, and hence, it may soon recover from an intraday loss.
Resistance & Support Levels
R1: $0.05783, R2: $0.05990 and R3: $0.06136
S1: $0.05431, S2: $0.05285 and S3: $0.05078
