Cardano’s price movement is reflecting improvement, and the same might be staying for a while. The recovery started after a regressive opening of the day. However, the ADA coin kept the upside movement intact, and after touching $0.0339, the currency trades stably at the same level.
Over the last week, Cardano’s price was trading with having strong support around $0.031. Yesterday, the coin was trading at $0.0331, and within the next 30 mins, the price dropped to $0.0326. Then, the ADA coin marked a steep hike, which took the price to $0.0337 by 3.29% over the next 3 hours. Later, the currency faced rejection, and the price dropped to $0.0335 at 05:00 UTC, but then, it recovered to $0.0336 at 06:00 UTC. After this slight recovery, over the next 6 hours, the price of Cardano touched $0.0325 by 3.54% fall.
ADA/USD Price Chart:
Further, the ADA price locked itself at the same level till 16:00 UTC, and then, it improved in the following hours. The same helped Cardano to reach $0.0330 at 21:02 UTC. However, the coin again faced rejection above $0.033 mark, and over the next few hours, it marked a heavy plunge in the price. ADA price plunged to $0.0317 by 3.92%, and the day ended at the same level. The intraday movement reflected a 3.96% decline in the price.
Today, Cardano coin started the day on a negative note, and within 20 mins of opening, the price spotted around its crucial support $0.0310. However, from this low, the ADA coin embarked on the improvement, and in the next 6 hours, the price touched $0.0330. Then, with a slight drop, the coin again picked up the pace, and at 08:34 UTC, it touched $0.0342. However, at the time of writing this analysis, the ADA price spotted at $0.03392.
The moving averages, 20 and 50 days are at $0.03380 and $0.03388, respectively. The same is acting as support for the price of Cardano. The current price has crossed the immediate resistance level, and the next resistance level at $0.0343 is likely to be violated in the upcoming hours.