Cardano (ADA) Price Analysis and Forecast 8 May

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Arushi Dubey
Arushi Dubey is a student of Bachelor in Arts( Psychology). She is pursuing Psychology in arts with English literature and French Language. She is well versed in the English language. She is good at expressing her thoughts into words. She is still getting more and more trained in gathering knowledge related to Crypto Currencies and expressing them.

Today the cryptocurrency market trends are under bearish movement. All the top ten cryptocurrencies prices decrease between 1 to 4 percent of their price, bitcoin, and Ethereum currencies were enjoying the bullish market trends yesterday, but today both experience decrease of value in the market.

Cardano which is positioned at the number of 10 in the cryptocurrency market has experienced a decrease in price by -3.67%. On Monday, the price of Cardano (ADA) was price increased by 1.61% and it was trading at the value of $0.070165 USD. The price of Cardano experienced fall through its two resistance level in the morning of Monday, but late afternoon it crossed the resistance of $0.0708 and reach the value of $0.072475.

Current Status of Cardano (ADA):
Today Cardano (ADA) is trading at the value of 0.064297 USD. The market capitalization of Cardano is at the value of $1,667,039,687 USD and a 24-hour volume of $52,091,061 USD. The circulating supply of the Cardano is 25,927,070,538 ADA and the total supply of 31,112,483,745 ADA.


Yesterday, the trading value of the Cardano (ADA) was $0.066178 USD (at the time of 16:00 UTC). The market cap of Cardano (ADA) was $1,715,804,995 USD and the 24-hour volume of $63,839,234 USD.


The value of Cardano (ADA) is continually slipping down in the market since Monday. We can clearly see the effect of the bearish market on the value of Cardano (ADA). The value of Cardano is decreased by -4.08% from yesterdays.


The Cardano value is consecutively in the bearish trends from the previous 4 weeks. The cryptocurrency market values are still undecided and fluctuating between the bullish or bearish trends in the market.


Cardano has enjoyed the years highest value at $0.103722 and it’s been in bullish trends for almost 7 weeks in this year. But, the current situation is not so good for the position of Cardano in the cryptocurrency market. We need to see what might take Cardano’s value back into the bullish trend after experiencing the pressure of the bearish trend.

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