Cardano has been a cryptocurrency which has impressed the markets ever since it got into action late last year. Cardano’s price growth has been impressive, primarily because of the fact that the currency managed to become so popular in such a short time. Cardano, as of this writing, is ranked as the seventh largest cryptocurrency by market cap.
The currency has gone through a number of ups and downs over the past couple of months – but it seems that the much awaited boom-phase is finally here. The currency has shown a solid 11-12% growth on a day-to-day basis over the past two days. Let us take a closer look at the recent performance of Cardano’s price and how the currency has grown over the past 24 hours, as well as the past week.
Cardano’s performance has been very impressive – and it has been one of the fastest growing cryptocurrencies in the markets. Cardano prices started trading at $0.18 and closed the day at $0.20 over the 24 hour period. The $0.20 milestone was what many who had invested in the currency were looking forward to – as it is a clear sign that the markets are extremely optimistic. This mini bull-run has been going on for two days now, and over the past two days, Cardano’s price has gone up from $0.15 to $0.20 – a significant achievement.
Cardano’s market cap has grown by $1.2 Billion if you take the past two days in account. From $4.0 Billion to $5.2 Billion. A week-long analysis of Cardano price shows that the currency went up from $0.141 to $0.20 over the week – and the market cap went up by $1.6 Billion over the week.
While the price and market cap of Cardano is indeed surging, a benefit of this bull-run is that it has helped the currency form a new, stable base at around the $0.20 mark which is expected to function as the new line of support over the next week or so. Cardano’s price is expected to continue moving forward in a similar manner – and is expected to reach a high of $0.32 to $0.35 over the next couple of days, beyond which it is expected to meet some resistance which may bring the price down. It is strongly advised to set up targets at the $0.30 mark.
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You can also check out our other price analysis articles here:
- Bitcoin Price Update as on 13 April 2018
- Litecoin Price Update as on 13 April 2018
- Ethereum Price Update as on 13 April 2018
- Ripple Price Update as on 13 April 2018
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.