- Cardano’s price slackened by 7.27% in the last 24 hours and fell to $0.059445
- It may further fall to the support point of $0.057715
- ADA lacks the support from short-term daily moving averages
The overall grim condition also has impacted the price trend of Cardano. Over the last 24 hours, the currency has lost around 7.27%, and its price has slipped from $0.064111 to $0.059445. No recovery movement seems imminent as of now.
Cardano Price Analysis
ADA coin opened the day at $0.064111, and over the initial three and a half hours, it marked a 4.52% hike and touched $0.067006, the highest point of the day. From this high price point, Cardano started trading downwards and fell to $0.05669 at 16:53 UTC. Over these 13 hours and 22 minutes, if faced steep fall and lost 15.39% value and moved down to $0.056691. After registering this steep movement, ADA coin was followed by a short stint of price recovery that added 11.02% in the value, and the price reached $0.062937 by 23:55 UTC. Over the last two hours, the price of the Cardano coin has again witnessed a 5.29% compression and fell to $0.059621.
ADA coin’s current price is at $0.059445, and it is lagging behind its 50 days MA ($0.060386) and 20 days MA ($0.060029) by 1.55% and 0.97%, respectively. The upcoming days don’t seem any good for the coin. As per the technicals, Cardano price may cross the support of $0.057715 in the upcoming hours and trade even below further. Investors should not expect any significant price recovery in the short-term.