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Cardano ADA price analysis: the overnight loss of 3.26%

cardano featured image

As mentioned in yesterday’s update of Cardano ADA price, it has indeed dipped further falling victim to the bearish uprising by a whopping decline of 3.26 percent. 

The coin has faced three significant price fluctuations, all of which were found amid the range of $0.0430 and $0.0410.

1-Day Cardano ADA Price Chart (ADA/USD)

ada price chart

Cardano ADA Price Chart by Trading View

The price began the 14th at $0.0434414, and across the following 12 hours, it suffered a loss of 3.79 percent, i.e., $0.0016 to reach the value of $0.0417943. It was succeeded by a 2.86 percent increase that drove the ADA price towards $0.042991 by 23:43 GMT. As the day approached the close, the value began trembling and suffered a loss of 2.39 percent to be set at $0.0419636 by 01:59 GMT.

The market capitalization of Cardano has seen an immense decline over the past twenty-four hours. It was downcast to $1.10 billion from $1.11 billion between the 14th and 15th of November.

The 20-day average persists at $0.04225, and the 50-day average is presently at $0.0422.

Looking at ADA’s close-term trend, it may exchange downwards. Nevertheless, within the extended-term, it might move upwards. Consequently, Cardano’s subsequent resistance mark may be set at $0.04479.

As indicated by the bearish trend above, short positions are looking more attractive. There have been numerous dismissals lately at a close-term supply area, $0.045000, which strengthens the argument for the additional (possible) path downwards. A sell-action from the prevailing market value would be of importance, with targets at; $0.036, $0.03, and then $0.027. Investors are encouraged to anticipate Cardano’s reach to $0.045 to achieve adequate returns. 

Background of Featured Image by Arnaud Mariat

Aroosa Nadeem

Aroosa Nadeem

A media graduate and passionate media person Aroosa has a knack for digital media journalism and outreach. She has contributed content to different digital media publishers in a variety of areas including technology, health and finance.

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