Cardano, the 7th largest name when it comes to the world of cryptocurrencies, is a popular investment option in the cryptocurrency markets. The currency’s rise to the top in a rather short time has been quite spectacular. With millions of users investing in Cardano, the currency’s market cap has reached the top-10 status in a very short time. Let us take a closer look at how the past 24 hours and the past week have been for Cardano.
ADA Price Over The Past 24 Hours
Over the past 24 hours, Cardano’s price saw a number of ups and downs but closed slightly weaker than what it had opened at. ADA price opened the day at a price of $0.187, but 24 hours later, the currency closed the day at $0.184. This is a loss of 1.38% over the 24 hour period. The currency peaked when the price momentarily hit $0.201, but then crashed to $0.185 to close the day. At the end of the 24 hour period, Cardano’s market cap was $4.8 Billion.
ADA Price Over The Past 7 Days
ADA price has seen a number of fluctuations over the past week. However, for Cardano, the prices at the end of the week were considerably higher than they were at the close of the week. The currency began the week at a price of $0.143 and closed the week at $0.185. Over the course of the week, the currency peaked when ADA price hit $0.22 in mid-week. The market cap when the week began was $3.7 Billion, which rose to $4.8 Billion by the time the week came to a close.
ADA Price Expectations
While the past week has shown a positive trend for Cardano, when you take a look at the larger picture, the picture isn’t as rosy as it appears to be. The price of Cardano has been on a constant fall for about three months in a row, and a strong line of resistance has formed on top. The currency needs to break through this line of resistance and it needs a strong bull-run to gain momentum in an otherwise bearish market. If the trend continues we may even see ADA price falling to a low of $0.14-$0.15 in the near future.
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