Even as most major cryptos are trading in the red, Cardano [ADA] is struggling to trim its losses. The coin saw its value drop more than 7 percent on Thursday. However, in the last one week, the digital asset had gained around 6.5 percent in value.
The virtual currency breached a key support level, which can be traced at $0.105. The coin has since fallen further to as low as $0.097. The crypto is struggling to cross the $0.100 mark, but has managed to break out from the current resistance level, noted at $0.099.
At the time of writing, the MACD showed that ADA was trading in bearish territory. The 100 EMA line indicated that the coin was in a downtrend. The crypto was exhibiting a significant trading range of $0.096-$0.108. As of 2232 GMT, ADA had fallen 5.2 percent against the U.S. dollar to trade at $0.1004.
The coin had inched 3.7 percent lower against BTC at the time of writing. Currently, one ADA is equivalent to around around 0.000014 BTC.
Cardano [ADA] Price Prediction 2018, 2020
- According to Smartereum, experts believe the coin could reach around $2.5 in one year. Experts believe the coin could trade at $10 in five years.
- Oracletimes.com author Pedro Bernardo has predicted that ADA’s price could climb to around $1.50 by the end of this year.
- Longforecast.com has predicted that the crypto will reach $1.89 by December 2020, which is quite a conservative forecast and seems to be less optimistic than other predictions.
Cardano [ADA] Latest Updates
Crypto exchange Bittrex recently introduced two new USD trading pairs to its trading platform. The exchange tweeted that it will launch USD markets for Cardano [ADA] and ZCash [ZEC]. The platform exchange supports both personal and corporate accounts for USD trading, deposits, and withdrawals.
Cardano’s venture capital firm Emurgo launches “light-client wallet”, Yoroi
Cardano CEO Charles Hoskinson brings Rwanda in focus; hails decentralisation
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