TL;DR breakdown
- Cardano price analysis is bearish today
- Support tested at $1.0, price likely to decline further
- ADA/USD resistance present at $1.110
Cardano price analysis is bearish today. Cardano has undergone strong bearish pressure since the beginning of the week. As our last Cardano price analysis outlined, ADA/USD was trading in a descending channel against both Bitcoin and USD, which could potentially lead to another test of lows for Cardano. Cardano’s current price is $1.03.Cardano has declined by 2.5 percent from its previous price.
The total market cap of Cardano is $2.15 billion and is trading at a volume of $1,240,717,253 over the past 24 hours. Cardano has been trading at a range of $1.02 to $1.07 ranking position 7 in the overall cryptocurrency market. However, Cardano is dominating a significant portion of the total market of 1.86 percent overall.
On other cryptocurrencies, the most significant cryptocurrencies Bitcoin and Etherium have registered a decline of 0.75 percent for Bitcoin and a 2.06 percent decline for Ethereum. The gainers of the day are Dogecoin and SHIB, with a 0.78 percent and 2.13 percent increase.
