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Cardano ADA price falls below $0.59 after recovery

Cardano ADA price falls below after recovery

The past few days have been very volatile not just for the cryptocurrency market but Cardano ADA price movement as well. Yesterday ADA price briefly recovered from the Sunday bleeding out that took the market down with it but unable to sustain the levels above the $0.60 mark; ADA price is back down in the $0.59 range at the time of writing.

Cardano ADA price had been hovering above the $0.63 levels at the start of the day; however, it soon fell down to the $0.57 level.

Cardano ADA price chart 1 - 18 Feb 2020 -Cardano ADA price chart by Trading View

Although the bulls help it attempt a recovery to the $0.59 levels, it was to no avail, and the ADA price fell further down to the $0.5600 levels.

Cardano ADA price movement: What to expect?

The only good sign was the final recovery on the 17th of February when the Cardano ADA price moved back up to the $0.60 range hitting the $$0.625 mark at one point.

Cardano ADA price chart 2 - 18 Feb 2020

At the time of writing, the major support for ADA price is found at the $0.4517 mark while the cryptocurrency is going through a bearish trend for the past few hours. If a bullish outbreak fails to take control of the movement, ADA can fall down to the $0.45 range.

On the other hand, even if the bulls take the rein, ADA is facing strong resistance at the $0.6062 mark and further above at the $0.6109 mark. While the strongest resistance stands at the $0.6452 mark, if the cryptocurrency manages to break past these resistance levels, it may get back to the 13th of February high of $0.72 range.

Featured Image by Cardano

Disclaimer: The information provided is not trading advice but an informative analysis of the price movement. Cryptopolitan.com holds no liability towards any investments based on the information provided on this page.

 

Saad B. Murtaza

Saad B. Murtaza

Journalist, Writer, Editor, Researcher, and Strategist with over 10 years of experience in the digital, print and public relations industries, Saad has been working with the mantra, Creativity, Quality and Punctuality. In his waning years promises to build a self-sustaining institute that provides free education. Carrying a diverse portfolio he has studied and written on topics related to cyber crimes, scams, blockchain, and cryptocurrencies.

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