The Cardano price is currently showing good progress. The past 20 days have been very good for the cryptocurrency market. All cryptocurrencies are showing strong growth. The Cardano (ADA) has displayed an almost +3.19% growth in the last 24 hours. At the time of writing, the ADA price is trending at $0.142 (+3.19%. Is the ADA/USD price showing a bullish pattern? Let’s take a close look at it.

Cardano Price Analysis: ADA Price and the Short Term ROI

Cardano Price Analysis
Cardano Price Analysis: ADAUSD 1 Day Chart: –  Tradingview

As mentioned earlier, the Cardano price is showing good overall improvement. The current ADA price stands at $0.142 with almost 3.19% move in the past 24 hours; almost 45.36% rise over a month, and almost 171.17% gain on the yearly scale.

Now, the Cardano (ADA) price was able to form a “bullish pattern” last month, after which it increased by almost 70% in the last few days! The ATH of ADA was $1.33 and currently, it is down by almost 89% from its All-Time-High (in USD) price. Now, the ADA price could increase more bullishly but if it gets rejected then the price could sail between $0.136 – $ 0.146! If the ADA price breaks the $0.146 mark then it could eventually break the horizontal resistance too. The key metrics are as follows:

Price $0.143
24hr Change +3.17%
24hr Vol $87,652,748
Liquid Marketcap $4,496,324,234
Liquid Supply 31,520,050,161
Max Supply 45,000,000,000

Cardano Price Analysis: Short Term ROI of ADA Price looks Promising

Cardano Price Analysis
Cardano Price Analysis: ADAUSD 1 Hr Chart: –  Tradingview

Now, against Bitcoin, the ADA price has changed by almost +1.62% in the last 24 hrs. The range of Cardano Price in USD from the lowest and highest trading prices over the last hour is between $0.141 – $0.143 and the range between the ADA’s lowest and highest trading prices over the last 24 hours is between $0.136 – $0.148.

The Cardano price performance (ROI) over the past 7 days, vs USD, has been increased by almost +2.01% and its price performance (ROI) over the past 90 days, vs USD, is almost 178%. So, it seems that the short term ROI is promising but the volatility of ADA over the past thirty days is 1.9. So, all the good things could depend on the next target price of $0.148. If ADA fails to crack the $0.148 price mark then it could drop to $0.138.

Conclusion

The position in the ADA/BTC market could be crucial for the altcoin as the Cardano price (ROI) against BTC has decreased by almost -0.30%. From the beginning of this month (August) the ADA price performance (ROI), to right now, vs USD has decreased by almost -1.12%. So, it will be interesting to see how the ADA price behaves from here. We wish you happy trading!

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Disclaimer: The authors of this website may have invested in crypto currencies themselves. They are not financial advisors and only express their opinions. Anyone considering investing in crypto currencies should be well informed about these high-risk assets.

Trading with financial products, especially with CFDs involves a high level of risk and is therefore not suitable for security-conscious investors. CFDs are complex instruments and carry a high risk of losing money quickly through leverage. Be aware that most private Investors lose money, if they decide to trade CFDs. Any type of trading and speculation in financial products that can produce an unusually high return is also associated with increased risk to lose money. Note that past gains are no guarantee of positive results in the future. 


Posted By

Prasanna

Prasanna is the editor-in-chief of CryptoTicker English. He has a huge knowledge of the cryptocurrency market. He is an extremely accomplished technical analyst having vast experience in the crypto domain.


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