- Cardano (ADA) price seems to head towards the intraday low
- The improvement in the coin still hangs in the balance
Cardano price movement has been under the pullback pressure. From the last couple of days, Cardano is hitting new intraday lows where everyday price gets lower than the previous day. On December 01, Cardano touched intraday low at $0.038467. The next day, it went to $0.037580 and yesterday, Cardano traded as low as $0.037226.
To understand the momentum of Cardano more precisely, let’s have a look at the intraday chart.
ADA/USD Price Chart:
Yesterday, Cardano started dealing at $0.0385. The coin remained in the same price range for some time and then began the fall. There was a slight improvement in the coin, but the same went in vain as the price touched $0.0378 with a decline of 2%. Later, the drop took the coin to $0.0374 by 0.97%. The price improved and touched $0.0384 by 2.59%. Further, the price dropped to $0.0377 by 1.77% and the intraday movement in the price reflected 2.03% fall. Today, the ADA price is exhibiting a heavy fall. The currency moved from $0.037 to $0.0365 by 3.49%.
The traders interested in Cardano are waiting for an early and substantial recovery. The coin was anticipated to climb up way back and enroll itself in the top ten cryptocurrency list. Well, the same seems to be on hold too. The coin is recommended for long term traders. The long-run would help the investors in locking massive dividends.
|Resistance Level||Price||Support Level||Price|
|R1||$ 0.039357||S1||$ 0.037168|
|R2||$ 0.040657||S2||$ 0.036279|
|R3||$ 0.041546||S3||$ 0.034979|
For intraday trading, Cardano is speculated to bring loss. The price has breached the immediate support level at $0.0371. The movement in the coin is heading to breach the next support level $0.0362. It wouldn’t be surprising if Cardano breaches the major support level.