Cardano: These Factors Have A Negative Impact On ADA Price

Name	Symbol	Market	Market Cap ($)	Algorithm
Cardano	ADAUSD	Crypto	16,180,900,429	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Cardano

ADAUSD

Crypto

16,180,900,429

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.0044	0.96%	0.4622	0.462	0.4622

Price Change

Price Change %

Current Price

Bid Price

Offer

0.0044

0.96%

0.4622

0.462

0.4622

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.4622	0.4563	0.4585	0.4578	0.216009 - 0.810200

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.4622

0.4563

0.4585

0.4578

0.216009 - 0.810200

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	02:36:29	70.98	0.4622	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

02:36:29

70.98

0.4622

USD

Price x Volume	Volume	Base Symbol	Related Pairs
262,210.83	571,260.33	ADA	ADAEUR	ADAGBP	ADABTC

Price x Volume

Volume

Base Symbol

Related Pairs

262,210.83

571,260.33

Cardano: These Factors Have A Negative Impact On ADA Price

04/10/2022 11:42am

NEWSBTC

Cardano is said to be designed in such a way that it performs better than Ethereum when it comes to running smart contracts. Cardano has now lost 86.2% of its $3.09 all-time high ADA still remains as the 8th largest crypto by market capitalization $1 trading price remains a big challenge for Cardano After all, Charles Hoskinson, the founder of the ADA network, was one of the developers of the network of what is widely recognized as the “king of all altcoins.” Hoskinson made sure the work he has done with Cardano was better, enhancing its smart contract performance. But even that improvement seems to fall short in helping the digital currency grow, as its price continues to hover around low levels. A look at data from Coingecko reveals ADA changing hands at $0.42, being down by 4.3% for the past week. Despite that, it still belongs to the top 10 cryptocurrencies in terms of market capitalization, ranking 8th with its value of over $14.4 billion. Related Reading: Chainlink Crosses $6.18 Trillion In Transaction Value – Will This Boost LINK Price? Cardano In Recurring Price Pattern The ADA/USDT technical chart provides better insight about the price movement of Cardano, which appears to be in a recurring pattern. Source: TradingView There is a descending triangle pattern in the daily time frame for the asset in which its price has resonating response for the past four months. The $0.417 support level, which was already tested three times, appears to be crucial point for ADA for its failure will mean a steep fall for the asset’s trading price. Within the observed triangle, there is an additional pattern to which Cardano price responds to – a descending wedge pattern. This seems to be the reason why the crypto is currently at the $0.42 mark. This wedge pattern could encourage a mini-bullish momentum for ADA as it might trigger a 9% increase in value for the altcoin. Looking Ahead At Cardano Price A break below the extended support level of $0.418 is likely to create a downward pressure for Cardano, putting it to a significantly lower support of $0.3675. However, in the event that the opposite happens, ADA might climb to a trading price of $0.4850 and if its demand increases, this level will be surpassed and the asset’s price will shoot all the way up to $0.5835. At this point in time, the biggest challenge for Cardano is to hit the $1 mark, which is actually lower than its recorded all-time high of $3.09 which was attained on September 2 last year. Related Reading: Elrond Coin Price Seen Climbing Nearly 20% In Next Few Weeks – Here’s Why ADA total market cap at $14.8 billion on the daily chart | Source: TradingView.com Featured image from Zipmex, Chart: TradingView.com

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ADAUSD Cardano