Cardano News

Cardano Exhibits a Price Recovery to the Extent of 2.75% in One Day

The ongoing bullish trend has also forwarded the price of Cardano. Over the last 24 hours, it has made a 2.75% price recovery, and the value of the coin is now at $0.037167. This bullish trend of ADA coin may stay here for some days before encountering a price correction.

Cardano Price Analysis

ADA coin was trading at $0.036172 at the starting of the day, and over the next 10 hours, it moved through downhill to lose $0.00144 and reached $0.034732. At 10:20 UTC, Cardano coin started strengthening, and the momentum pushed the price to $0.037101 by 20:17 UTC. It was followed by another hike between 20:33 and 02:51 UTC. In these 6 hours, ADA pushed the price to $0.037193.

Cardano’s market cap has also noticed a similar trend over the last two days. Between January 10 & 11, the market cap has reached 962.280 million USD from 956.027 million USD.

ADA NewsADA’s current price at $0.037167 is still lagging behind its 50 days and 20 days moving averages with a moderate gap. It hints at a short living of the current bullish movement. Investors are advised to stay alert of immediate price correction anytime soon.

Resistance & Support Levels

R1: $0.03761, R2: $0.03835 and R3: $0.03972

S1: $0.03550, S2: $0.03413 and S3: $0.03339

Paul Jolin

Paul Jolin is an economist having experience in financial research. He joined CoinNewsSpan in 2017 and since then has been working with the team to offer best price analysis and review stories on the crypto space. He is optimistic about blockchain technology's use cases in terms of financial freedom. He also has experience as an independent trader.

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