The crypto market has been under severe bearish trend for quite some time. The same has brought the currencies to a level that was never seen before. For most of the coins, a 52-weeks low price counter was spotted getting a new set of digits.
ADA coin was victimized in the same spree. The downward movement in the currency was not only disappointing but was scary for many investors. However, after marking a new low, Cardano price has begun the improvement. The day ended with a positive note, and the influence of the same is still felt. Despite a sluggish opening, the anticipation is ripe that the price would soon bring the rally and astound the traders.
Cardano Price Analysis
Yesterday, Cardano started dealing at $0.0242 during an opening hour. In the next 2 hours, the price counters moved to $0.0182 by 24.71% fall at 02:18 UTC, and in the subsequent hours, the price escalated to $0.0276 by a massive hike of 52.15% at 03:32 UTC. ADA price dribbled once again, and this time, the coin touched $0.0225. However, after that, the currency escalated, and in the period of the next 8 hours, Cardano touched $0.0294 by 30.67% hike, but the price was followed by a pullback pressure that brought it down to $0.0244 by 16.93% fall at 15:48 UTC.
With a spike at $0.0270, the currency plunged to $0.0244 but later recovered to $0.0294 by 20.42% hike. The day ended at $0.0287, and then, today, Cardano started with a sluggish movement, and the coin is continuing on the same level.
At the time of writing this analysis, the coin was trading at $0.0279 and thus heading towards the immediate resistance level at $0.030. However, if the current momentum regresses, then the coin might violate the immediate support level at $0.0219.