- Cardano has followed the market suit and got down by 6.84% in one day
- The next halting point may come by $0.0259
ADA coin has not been spared from the bearish slips most of the coins faced in the last few days. The price has been tapered off by 6.84% in this period, and the value has been confined to $0.027459. After reaching above $0.032 on March 20, Cardano’s price continued to trade downwards and marked a regressive price trend.
Cardano Faces Volatility Amid Support from MAs
Yesterday, Cardano coin was being traded at $0.029477 at the opening of the day, and over the first 6 hours, it could elevate its value by 3.42% and touched the highest point of the day at $0.030484. It was followed by a massive price correction of 12.04% that cost it 0.003 USD and pulled the ADA price down to $0.026815 by 20:01 UTC.
After that, the currency marked a slight upward movement and reached $0.2809, but then in the next 4 hours and 36 minutes, Cardano’s price dropped by 3.93% and moved from $0.0280 to $0.0269. After this slight volatile movement, the coin continued to trade in a similar range, and at the time of writing, it was trading at $0.02745 with having support from its short-term MAs, namely, 50 & 90-days.
The MACD indicator indicates that the ADA coin may register upside movement as its MACD line has surpassed the signal line recently. However, as per the current trend, the currency may have to witness further degradation of its value. As per the current price trend and ADA forecast, the currency might continue to reflect volatility before registering recovery.
Resistance & Support Levels
R1: $0.0292, R2: $0.0313 and R3: $0.0324
S1: $0.0273, S2: $0.0248 and S3: $0.0227
