Cardano Price Analysis: ADA Slays With A Heavy Bearish Trend

The crypto market sphere has attained no change till now, and the intense volatility is slaying down every potential of the altcoins like Cardano (ADA). In the past two days, the coin is completely submerged in the bearish zone. Majority crypto enthusiasts are of the opinion that as long as volatility will not get to a certain ground, it is not easy for the altcoin like ADA to have a good impact on its trendline and this is the reason why majority projects can fail in the upcoming days.

Current statistics of Cardano:

  • Price in USD: 0.0508 USD (06:27 UTC as on 9th August)
  • Price in BTC: 0.00000431 BTC
  • Circulating supply: 25,927,070,538 ADA
  • Market cap: 1,320,058,365 USD
  • Market rank: 13

Cardano Price analysis and future price predictions:

Cardano Price Prediction
Cardano Price Chart by TradingView

From the above 1-day chart, it is well observant that Cardano’s bearish trend is highly persistent than its bullish trend. Although, intermediately, it is trying to move up in the bullish zone, but due to heavy pull back, it is lacking effective support levels which can actually help to retain its positive values. Its momentum is declining down really fast. For instance, yesterday, it traded at a low value of 0.0505 USD, and today, it had traded at 0.0506. So, the shift in the prices is not as huge as the bearish range is pretty much consistent in case of ADA, and within one day, its value got increased by 0.59%. With high market volatility, it is getting tougher for ADA to rise up, and even if it is doing so, it cannot retain the same for long. But the coin has enough potential and it is expected to trade around $0.3 by the end of 2019.

Conclusion:

The current crypto sphere is highly unfavorable and this degrades down the values of altcoins like ADA to a great extent. However, experts foresee a positive future in the long-term, and the investors are expected to fetch good returns.

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