Cardano is currently trading at $0.3465 after a price drop of 5.09%. ADA is off against BTC and ETH by around 4.30% and 3.47% respectively. Upward movement is likely to continue for Cardano in the coming days.
Almost 10 top cryptocurrencies are in the red after a successful weekend of trading, and Cardano is no exception. Ethereum killer is currently trading at $0.3465 after the price fell 5.09% in the last 24 hours. The crypto also reached a high of $0.3685 and a low of $0.3431 at the same time. On the other hand, when you look at the longer timeframes for Cardano, we see that the altcoin is still green 25.12% in the past week and higher than 15% in the last ten three days.
ADA closed against Bitcoin (BTC) and Ethereum (ETH) around 4.30% and 3.47% respectively. Also in the red zone is the 24-hour trading ADA which currently stands at $525,146,755 after falling more than 16% since the previous day.
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Cardano (ADA) Market Analysis: 8th Largest Crypto with a Market Capitalization of $525,146,755
With its market capitalization of $525,146,755, Cardano (ADA) is currently the 8th largest crypto in the market. This puts it behind Binance USD (BUSD) which is ranked 7th in the list of major cryptos.
The daily ADA chart shows that Ethereum’s 9-EMA line (moving average) has crossed above the 20-EMA line. This may be a sign that the rise of the altcoin will continue in the coming days.
ADA recently turned its resistance at $0.3458 into support. If the altcoin closes today’s trading session below this level, it may undermine the bullish news that the ADA price may fall to the 9-EMA level.
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