Cardano is one of the largest cryptocurrencies and one of the top 10 cryptocurrencies in terms of market capitalization. Cardano is currently trading at 2.24, after a sharp jump of 17.63% from a weekly low of 1.24.
Polarizing cryptocurrency, the third-largest in terms of market cap, has recently launched its highly anticipated smart contract platform that will pave the way for DFI growth.
However, positive sentiment around the upgrade waned sharply as traders took advantage of the “Buy Rumor, Sell News” article, after which the price fell more than 30%.
This usually happens with the most important news events because the hype joins the event before the deliverers are punished who bought the top. A good example of this was when the coin went straight to the all-time high of $65,000 on the Nasdaq.
The strong return of Cardano’s (ADA) from the 9 1.94 level hit the roadblock in the 20-day EMA ($ 2.36). This shows that the sentiment remains negative and traders are selling the 20 day EMA at rallies.
The Bears will now try to sink below the key support zone at $ 1.94 and the 100-day SMA ($ 1.83). If successful, the ADA / USDT pair could fall to $ 1.60 and then to 40 1.40.
Alternatively, if the price rises above the current level or falls below $ 1.94, Bell will again try to remove the upper barrier. A break above the 20-day EMA would be the first sign that the correction may be over. The pair can then reach $ 2.60 and then 2.80.
In Cardano’s case, while this week’s recovery has shown signs of strength, it is technically stuck on several roadblocks.
The 50-day average has become a key point of support as it surpassed it on August 1. As a result of recent sales, Cardano has fallen below this key moving average, now it is working as a bitter surface.
If ADA could close a daily candle above 50EMA at 2.28, it would likely float above the 65 65 2.65 limits.
The rejection from this level indicates a clear decline as the price reduction targets start falling below 1.55 and 1.39.
The price of Cardano
Current live ADA pricing information and interactive charts are available on our site 24 hours a day. At the bottom of each page on our site is the latest Cardano price of the ticker bar. Price is also available in different currency equations:
USD – ADAtoUSD.
British Pound Sterling – ADAtoGBP
Japanese Yen – ADAtoJPY
Euro – ADA toEUR
Australian Dollar – ADAtoAUD
Russian Rouble – ADAtoRUB
Bitcoin – ADAtoBTC
The live Cardano price today is $2.23 USD with a 24-hour trading volume of $5,819,547,773 USD. We update our ADA to USD price in real-time. Cardano is down 6.14% in the last 24 hours. The current CoinMarketCap ranking is #3, with a live market cap of $71,267,504,768 USD. It has a circulating supply of 32,025,787,327 ADA coins and a max. supply of 45,000,000,000 ADA coins.
About Cardano Cardano claims to have tried to change the way cryptocurrencies are designed and developed, balancing the best performance of many cryptocurrencies into one coin. The project began in 2015, the work of a global team of scientists and educators. The ADA was released in September 2017.