Cardano is among the most popular names when it comes to cryptocurrencies. The currency has been around for a short while – but in this short span of time, it has managed to be ranked among some of the biggest names in the world of cryptocurrencies. Cardano, which started off in October 2017 is currently ranked #7 in the list of top cryptocurrencies in terms of market-cap.
With a large number of investors backing Cardano, many eyes are on the Cardano price movement. The currency, after having a stellar run in the markets when it first debuted, went through a troubled time over the past couple of months. However, despite the markets being very mercurial and volatile, the prediction for Cardano prices remains positive.
When you look at the 24-hour performance of the currency – Cardano shows a 3.5% growth. Having started the day at $0.149 – Cardano ended the day at $0.154 – a significant growth. Moreover, this was almost an uninterrupted growth – without any major drops coming on the way. Cardano price peaked at $0.157 but closed the day $0.003 weaker. Cardano began the day with a market cap of $3.88 Billion and closed the day with a market cap of $4.02 Billion.
The seven-day period has been very volatile for Cardano. The currency started the week at a high of $0.173 and closed the week at $0.154 – which is a significant drop. However, the closing price isn’t as dismal as it appears to be because Cardano dropped to an extreme low of $0.141 over the week – this is the point where the bulls rushed in and helped the currency recover.
The line of support for Cardano is moving in an uptrend – helping the currency reach a breakout point over the next couple of days. From here, Cardano has the possibility of recording a massive growth – reaching as high as $0.40 soon. Investors can set multiple targets – a short-term target of $0.25 is rather attainable, followed by a mid-term target of $0.32 and a long-term target of $0.40.
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Disclaimer: Neither the management nor the authors at CryptoCrimson are responsible for any losses, financial or otherwise, which may occur due to investing based on our articles. These are market predictions – which are not set in stone. The information provided is only for educational purposes and cannot be considered a financial advice.