Cardano price has not been able to perform to its potential in the current bearish sentiment, which has engulfed the crypto market. With the coin being under continual market pressure, the price has mostly been below the baseline for most of the time in the last three months. The price of ADA coin has been fluctuating in the range of $0.03 – $0.05 indicating that the bears are in full control.
Cardano Price Analysis
The price movement of ADA coin has been a disappointment in the ongoing bearish volatility that has hit the crypto market since July. Cardano price was trading in the upper range on September 21 at $0.0532. Then, on September 26, due to the steep falls, the price of ADA coin slid below the baseline at $0.0359 on September 26, the downward movement was to the tune of 32.11%. The price managed to pull itself up on October 10 to the extent of 19.17% at $0.0429. The bear pressure continued, and the price again went down to $0.03617 on October 23.
Cardano price managed to bounce back in the upper range on November 18 when it reached $0.04457, showing a rise of 24.17%. However, the bears managed to get good of the price at the end of the 3 months, pushing the price in the downward range again to $0.0337 on December 17 to the extent of 24.30%. Today also the price of ADA has been moving in a similar range at $0.0334.
Cardano price is trying to get out of the bearish phase but with little success due to heavy bear pressure. Experts feel that the ADA coin may prove its mettle by early 2020.
Current investors can continue to hold on to their investments as the volatility in the crypto market is expected only for a short period. Short-term traders could trade and make certain small gains.