Cardano could not maintain its value against USD at 0.050 USD yesterday and fell by 1.51% to reach at 0.049 USD. This decrease might not seem a bigger one, but it surely halts Cardano’s plan for growth in the coming days. The coin is likely to gain handsomely by the end of this year. Let us look out the current data of the coin before going in detail of the price movement.
- Cardano is down by 1.51% over the last 24 hours.
- The next resistance may come at 0.0513 USD.
Cardano Price Statistics-
|Cardano (ADA)||20th August 03:41 UTC|
|ROI (Return on Investment)||128.65%|
|Coin Circulation||25,927,070,538 ADA|
|Market Cap||1,288,597,894 USD|
|Value in USD||0.049326 USD|
|Value in BTC||0.00000459 BTC|
|24h Volume||31,031,944 USD|
ADA to USD Price Comparison-
Cardano faced its first swing between 00:07 UTC and 05:57 UTC and it got a deduction of 2.55% which pulled the coin to 0.049461 USD. It was followed by another phase of the hike which took the coin to 0.050 USD by 07:58 UTC. The third variation of 2.37% deduction cost the coin 0.0012 USD, and it again pushed the value of Cardano near 0.049 USD. The next swing happened over the next 6 hours and 11 minutes from 16:33 UTC and this swing added 0.0011 USD to the coin and made it roam around 0.050709 USD. The last variation started near the closing of the day, and by now it has already made a deep cut of 2.67%.
Cardano Price Prediction-
Cardano falls by a margin, but it has a huge potential to show a bullish run soon. The coin has high fundamentals on its back, and in the long-term, it is unlikely to disappoint its investors.
|1st Resistance||0.050845333 USD|
|2nd Resistance||0.051392667 USD|
|3rd Resistance||0.051972333 USD|
|1st Support Level||0.049718333 USD|
|2nd Support Level||0.049138667 USD|
|3rd Support Level||0.048591333 USD|
Above are the details of the probable resistance and support levels. By the end of this week, Cardano may see its value near 0.0513 USD.
1- Do not invest in every ICO – most of them are a scam.
2- Crypto is a heavily manipulated commodity and the price can change at any moment.
3- The creation cost of a coin represents the “wholesale” price – It is always better to buy when the price is close to the creation cost.
4- Crypto has a natural cash flow that dictates the selling pressure. Like, 1800 bitcoins are mine each day so 1800 bitcoin must be bought at the current price (“means market needs new $18 millions of investment every day if the price is $10,000 to maintain the current price“).
5- Patience and timing are key to making a profit:
Buy, when the price is close to the creation cost.
Sell, when the price is way high off the creation cost.