ToStart, which is a Japanese merchant, has recently started accepting payment using ADA. It seems like Cardano might be on the run to acquire more merchants on their network!
— EMURGO (@emurgo_io) October 8, 2019
Cardano Price Analysis:
In the last five days, ADA price was initially seen trading to the lowest touchpoint of $0.037532 on October 4 at 04:14 UTC. Cardano price then increased by 7.16% on the same day at 16:40 UTC seen trading at $0.040219. The descent of 5.12% was then realized on October 7, at 01:50 UTC, when the price of ADA coin was realized trading at $0.038146. The price from then surged by 12.31% to the highest touch point of $0.042843 seen today at 08:40 UTC. Cardano price from then is slightly dropped by 1.52% as of now.
If we look at current price movements of ADA coin from the past week, it is moving upwards, which might acquire attention of the traders. In the near-term, the price might trade around its next resistance of $0.043 in the few days or maybe in a week. Inversely, Cardano price may face strong support near $0.039. So, if you were planning to invest in ADA, be ready to preserve some losses as well. Traders should consider the following support and resistance levels to avoid losses in trading.
R1: $0.042246, R2: $0.04305 and R3: $0.043921
S1: $0.040571, S2: $0.0397 and S3: $0.038896
To conclude, ADA might not be an ideal altcoin to invest in as of now. As predicted, the value might drop further down by the end of the year as well. So, you might have to be very attentive with Cardano, since the fluctuations are quite volatile.