The price of the Cardano went down by 3% over the past 24 hours. Over the past 3 months, the daily movement of ADA to USD has been seen to trade in the price ranges of $0.052 towards the end of August. The candles were up-trending in the green during August, and during September, the Cardano price mounted to $0.0555, exhibiting a 5% progression. During September the coin saw a deep plunge down to $0.0350, and in the same month the price went down by 36.36%
Currently, the token is trading at $0.040. The 9-day moving averages is at $0.0414. This price is above the current trading price area. The 7-week and 100-day moving averages are above the current trading price and do not provide any support to the fall.
The MACD is above zero and holds a bearish crossover with the signal line overpowering the MACD line. The current trading price of Cardano has support at $0.039, and the next support above $0.041.
Cardano was considered to be one of the most exciting coins available in the cryptocurrency market. Several investors are concerned about investing in cryptocurrencies because they are worried about security and scalability. By virtue of the security assurances, Cardano positioned itself as a reliable crypto coin. Cardano is set to sort every issue one might have with Bitcoin and Ethereum.
The development of Cardano has been contributed to by 3 organizations. The Cardano Foundation supports the community of Cardano users and works with authorities on commercial and regulatory matters. The IOHK also works on Cardano, and it holds the contract to develop the platform until 2020. Emurgo invests in startups and helps commercial ventures to build their projects on the Cardano Blockchain. The major vision of the Cardano Foundation is to standardize, protect, and to promote the Cardano Protocol technology.
Cardano focuses on becoming a blockchain and cryptocurrency standards body by proposing and studying blockchain and cryptocurrency regulation. The…