ADA price analysis
Price Analysis

Trade99’s ADA Price Analysis: Cardano Price Rallies by 7% in a Day

Today, the Cardano price movement has impressed the traders. The last quarter of 2019 was quite disappointing, but the current quarter of 2020 is likely to wash off the previous losses.

The upcoming period in the quarter is likely to be great. The investment in ADA coin would bring the great result to the traders in the future. To understand the momentum more precisely, let’s have a look at the price chart OF Cardano.

ADA/USD Price Chart:

ADA coin price

Yesterday, Cardano price started dealing at $0.0369, and then the price escalated to $0.0381 by 3.32%. The coin locked around $0.0381 for a while, and then, it has continued the upside movement and the price jumped to $0.0392. There was a slight fall in the price marked that brought the ADA coin price to $0.0380 by 3%. Further, Cardano’s price jumped to $0.0425 by a huge hike of 11.86%. Later, the price fell to $0.0402 by 5.39%. The closing hours reflected a slight upside movement as the coin was traded at $0.0415. The intraday movement exhibited a 12.10% progression in the price.

Today, Cardano’s movement has been a little dramatic. The price jumped to $0.0426 in the opening hour but soon fell to $0.0413. The coin returned to $0.0427 but again dropped to $0.0401. The slight recovery in ADA coin was followed with a price fall. The counters moved from $0.0401 to $0.0413 and then to $0.0403.

Cardano is slightly under the selling pressure. The same would be lifted soon. The price would jump to $0.0435, i.e., the immediate resistance level in the coming hours. However, if the coin drops, then the immediate support level would be found at $0.0383.

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