Cardano has not been spared by the overall sluggishness in the market. It has been dropped by 3.41% overnight, and the current price rests at $0.04480. It has been through three major price shifts in this period, and the bearish pressure is not likely to go away anytime soon.
ADA coin’s first major movement started at 00:16 UTC, and over the next four and a half hours, it got contracted by 2.41% to be placed at $0.045274. It was followed by a 2.64% hike that added $0.00119 to the value and put the Cardano price at $0.046468, the highest for the day. Later, another price variation was seen between 07:24 & 02:13 UTC today. Over these almost 19 hours, ADA coin saw its biggest reduction of the day. This swing cut 4.28% down from the value and pulled the price down to $0.04447.
Cardano’s current price has been going above its 50 days MA ($0.044766) and 20 days MA ($0.044794). However, no sudden recovery seems possible. It may have to fall to the support of $0.04474 before making any effort to get up. Intraday traders should be prepared for any sudden temporary spikes.
| Cardano (ADA) | Resistance & Support Levels |
| 1st Resistance | $0.04622 |
| 2nd Resistance | $0.04678 |
| 3rd Resistance | $0.04724 |
| 1st Support | $0.04519 |
| 2nd Support | $0.04474 |
| 3rd Support | $0.04417 |
