Cardano (ADA) Exhibits Heavy Price Plunge in the 3-month Run

Cardano is currently under huge market pressure. The 24-hour change is marked as a 6% regression in the price. The heavy pullback in the ADA coin is speculated to stay for a while. If we broaden our lenses, the 3-month movement of the currency has been quite threatening. On September 17, Cardano was dealing at 0.050429 with a market cap of $1,270,629,600.  If we compare the price with today, the ADA price is at $0.03381 with a market cap of $878,022,955; there is a 28% loss in the price of the coin.

Cardano Price Prediction

The quarterly price chart of Cardano cryptocurrency is reflecting a steep fall in the price. The coin started dealing at $0.0472 on September 16, 2019. The price escalated to $0.05545 by 17.43%. The coin couldn’t hold itself and fell to $0.0337 by 34.85%. The price improved in the later hours and jumped to $0.0427 by 18.71%. The price dropped to $0.0360 by 15.67%. There was another escalation spotted in ADA coin that took the price to $0.0445 by 26.10%. Cardano value remained at the level for some time but later fell to $0.0335 by 27.11%. Towards the end of November, the price jumped to $0.0418 by 24.84%. December seems to be under a lot of pressure. In the last 16 days, the ADA currency has marked 19.36% loss as the price counters changed from $0.0418 to $0.0338.

Cardano is speculated to improve in the coming days. The currency holds a lot of expectations of the traders, and we are positive that the same would turn out fruitful. ADA price is currently trading at $0.03381. The price seems to breach the immediate support level. There is speculation that the coin might violate the next level anytime soon. The intraday trading might bear losses for the traders. The investors interested in ADA coin are recommended to opt for long-term investment.