Cardano (ADA) is currently the 8th largest cryptocurrency by market cap. This is a significant achievement for Cardano, which started off in October 2017. The currency has been one of the fastest rising names - reaching the top 10 list in just a couple of months since its debut. However, the next few weeks don't really look good for Cardano if cryptocurrency experts are to be believed. Let us take a closer look at Cardano's recent performance and where it is possibly heading.
(ADA) Cardano Price Over The Past 24 Hours
Cardano price, over the past 24 hours has fallen by 8% as the currency fell from $0.22 to $0.20 - hitting the highest point of the day at $0.226 and the lowest point of the day at $0.198. The currency has lost $500 Million in market cap during the day as it began the day at $5.8 Billion, while the day came to a close at the price of $5.3 Billion.
(ADA) Cardano Price Over The Past Week
Cardano began the week at a price of $0.28 and a market cap of $7.8 Billion, which then rose to the week's high of $0.31 and 8.2 Billion respectively. However, from there it was all a downhill ride as Cardano closed the week at $0.20 - a significant fall from the highest point. Over the week, Cardano lost a market cap of close to $2.5 Billion.
(ADA) Cardano Price Expectations
[caption id="attachment_3418" align="aligncenter" width="1190"]
Expected movement of Cardano price | Image; Tradingview[/caption]
Cardano price is expected to continue falling as a head and shoulders pattern emerged a while ago - and the currency is following the path set by the pattern. The currency is expected to fall to a low of $0.13 to $0.10 over the next couple of weeks. Not a good time to be a Cardano investor.
For more (ADA) Cardano price related updates and news stay tuned to Cryptocrimson or you can also bookmark our page. We’ll also keep adding updates to this article for real-time analysis.
Check out our detailed coverage on the following cryptocurrencies as well:
: 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.