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Cardano Price Analysis and Prediction: The Currency is going down by 2%

The cryptocurrency was recovering this week and going forward in the upper direction. The cryptocurrencies such as Bitcoin, Dogecoin, and USD coin is growing great in the market today. But, the other currencies than Bitcoin in the top 10 are not able to hold their pace in the upward direction and they are going downward.

The currencies such as Ethereum, Ripple, Litecoin, Bitcoin Cash, and Tron are going downward. The 11th position cryptocurrency Cardano is also suffering the pressure of the bearish correction. Yesterday, the currency has surged up to $0.082 from the value of $0.079, but later the fall back the value of $0.079. The currency has decreased by 3% at 08:50:29 UTC.

The Market Capitalization of the currency was at $2,063,601,407 USD and the 24-hour volume of the currency was $122,905,252 USD on July 09, 2019.

Current status of Cardano (ADA): At the time of writing, the currency is trading at a further declining value of $0.076817 USD and its value is decreasing by -2.45%. The BTC value of the currency is also decreasing by -7.44% and it is at 0.00000591 BTC. The market capitalization of the currency is $1,991,638,680 USD and the 24-hour volume of the currency is $102,110,614 USD. The circulating supply of ADA is 25,927,070,538 ADA. The ROI of the Cardano is 254.36%.

Clearly, the currency has even fallen more than its value of yesterday and the value of the market capitalization and the 24-hour volume has also decreased respectively. In the previous week, the highest value recorded at $0.083 and the anticipation was that the coin will move above the value of $0.084.

Cardano (ADA) Price Forecast: The value of the cryptocurrency Cardano is going down currently. The 4-hour value chart of the ADA/USDT is also below the bearish zone near the value of $0.080 support at 25 simple MA. There was an upside correction near $0.075.

The 23.6% Fib retracement level of the past main slide from the high of $0.0909 to low of $0.0757, but the upward trend was stopped at the $0.0820 level. The key bearish trend line creating with the resistance close to the value of $0.0800. The price also failed to examine the 50% fib retracement level of the past main high to low.

The value could revisit the $0.0760 or $0.0755 level and if the price break below the value of $0.0757, then the value could decline the support area of $0.0750. Then the price could find the major support at the value of $0.0732 and below this, the price could test at the value of $0.0715. If the trends go upside then the bulls need to make the trend line at the resistance level of $0.0820. The price is bearish so there are many obstacles in between near the next resistance levels of $0.0845 and $0.0850. The value must get settle above the resistance of $0.0850 pivot level a bring a good recovery in the trading value and then only the price could make up to $0.0920 and $0.0950.

This post first appeared on Coin Market, please read the originial post: here

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Cardano Price Analysis and Prediction: The Currency is going down by 2%


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