Like other altcoins, Cardano has also borne the ongoing bear sentiment in the crypto market. This has affected its prices as can be seen from the one-month price chart where the prices have been moving in the range of $0.04 – $0.05.
Cardano Price Analysis
Over the past one month, Cardano has been under the bear radar with the prices moving continually below the baseline. From a high of $0.05138 on August 18, the price of ADA has gone down to $0.04624 on August 21 to the extent of 10%. Cardano price then rallied to $0.052176 in the next 3 days to the tune of 12.76%. But it had a major fall on August 29, and it reached $0.044236 to the extent of 15.22%. Then, ADA price moved upwards slightly to the extent of 7.13% within the next 5 days at $0.04736. With the bears continuing to put pressure, Cardano again fell to $0.04464 on September 12, to the extent of 5.74%. Today, the price of ADA coin is at $0.04708, which is higher to the extent of 5.60%.
ADA to USD Price Chart by TradingView
Cardano price was able to maintain its momentum at the beginning of the year, and this upward price momentum continued till April. Then, there were intermittent fluctuations till end June. With the bears gaining a strong foothold in July, the prices were thrown off-guard and went reeling downwards on a continuous basis. Though the bulls are trying hard for recovery, they have had not much success due to continued market volatility. Cardano is expected to be in this phase for the short-term and by the year-end, when the market is expected to recover, it is likely to trade around its 30-day high value of $0.052.
Investors cannot expect any returns from this current market volatility, but they can invest from a long-term perspective.