Cardano News

Cardano (ADA) Gains 5.04% Overnight; Surpasses $0.0310

The market has taken an immediate and unprecedented step towards price recovery over the last 24 hours. Cardano has been on the frontline. It has been up by 5.04% in this period, and its current value stands at $0.031016.

If we look at the last 7 days’ price trend of ADA coin, it reflects moderate movement. On March 20, the coin traded with bullish influence, but on the same day, it faced a steep decline. After that, the currency continued to trade with a downside momentum.

After hitting $0.026 on March 23, Cardano initiated price recovery and breached a $0.030 mark in the next two days. However, until yesterday, ADA price spotted around $0.029, but today, it opened on a positive note.

Cardano Price Analysis

Cardano (ADA) Price News
ADA/USD Chart By TradingView

Yesterday, the currency started trading around $0.029527, and in the first 9 hours, it got a 2% hike that pushed Cardano price to $0.0301176. It was followed by a 2.66% decline in the value, and this swing pulled the value down to $0.029316 by 16:24 UTC.

After this moderate fall, the ADA coin registered a sharp upside movement. Between 16:24 & 00:18 UTC today, the currency managed to soar by almost 7%, and this swing took Cardano price to $0.031363.

At the time of writing, the coin traded below its short-term SMA lines. The RSI is currently at 48.19 points. As per the current price trend, ADA coin is to have a few more bullish days ahead. The next resistance seems likely around $0.0316.

Resistance & Support Levels

R1: $0.0311, R2: $0.0316 and R3: $0.0325

S1: $0.0298, S2: $0.0288 and R3: $0.0284

Edward Nash

Edward Nash is an editor and analyst with over 10 years of financial market experience. Prior to joining CoinNewsSpan, he worked in several famous financial institutions. He has been active in the cryptocurrency market since 2011, specializing in technical analysis of current crypto trends and offering analytical opinion-based pieces.

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