• The price of Cardano is declining by -3.92% and is trading at $0.038473 against the United state dollar.
• The immediate support area for Cardano (ADA) is $0.037633.
• Support areas are found at $0.003300 and $0.037633 and $0.0036478.
• Resistance areas are found at $0.039568, $0.040044 and $0.045.

Cardano cryptocurrency has recently informed their user can they will earn ADA from November. These rewards the customers will gain cause the cryptocurrency network is adding more functionality for the users. The news was announced by IOHK CEO, Charles Hoskinson and also the Shelley testnet was also very successful in the market. This is very good news for the cryptocurrency. Let’s now discuss the value of Cardano and its price analysis.

Current Status of Cardano (ADA): Currently the currency is trading along with bulls and it is trading at the value of $0.038765, its value is increasing by 3.49%. The market capitalization of the currency is $1,005,070,222 and the 24-hour volume of the currency is $47,550,550. The circulating supply of the currency is 25,927,070,538 ADA and the ROI of the currency is 78.82%.

On 29th September, the currency was trading at the value of $0.037722 at 17:14 with the market cap of $978,007,998. The currency yesterday open with the high value of $0.038828 and for long the currency was hovering between the values of $0.03800 to $0.03950. The currency reached to the value of $0.039567 at 09:49 UTC, but the currency also reaches up to the low level of $0.036809 at 18:44 UTC.

All the currencies are suffering the bearish pressure in their values in the market for 2 weeks and Cardano is also one of them. The currency started the week with the value of $0.04866 and value decreases under the bearish pressure. Now the currency is in the recovery phase.

Price Analysis and Technical Indicator of Cardano (ADA): The currency has experienced a lot of ups and downs in the value this week. The currency started this week with the value of the $0.04866, but unfortunately, the currency decreased around 10% and now it is trading at the value of $0.038. The RSI value of the currency is near 50 and it is showing a selling signal. The MACD oscillators of 3-10-day are at the value of $0.032800, it is in the red zone. The 50% Fibonacci retracement of 4 weeks is at the value of high/low $0.045247. On the other hand, the 38.2% retracement from 4 weeks is $0.047219 high to $0.042845 low.

All of the three indicators mentioned here are showing sell signal and this means that bear has power in its hand still. The main support levels of the currency are $0.037633, $0.0036478 and the value of $0.03507. The value of $0.037633 is immediate support. On the other hand, the currency’s resistance level is at the values of $0.039568, $0.040044 and the further this the value of $0.045 could act as a strong resistance. If the currency can break the resistance of $0.040 then the bullish movement will start.