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Ada Price Analysis: When Will ADA Overcome Its Bearish Falls?

Truth be told, just a few days ago, the ADA has certainly captured the attention of the entire market and surprised them with its sudden bullish move. The coin achieved a huge 4.5 percent hike in one day on September 10 and jumped drastically to $0.048. Speaking of the additional resistance, it could be around $0.049.

However, considering the current scenario, quite similar to other altcoins, in the crypto market, Cardano also bore the continuing bear feeling. As can be seen from the one-month price graph where prices moved in the range of $0.04 – $0.05 this has influenced its prices.

WHERE IS ADA NOW?

Considering the ADA’s present outlook, it is obvious that the ADA is presently trading at around $0.04708 for all accounts trading.

Regarding the coin’s ROI, approximately 115.71 percent can be seen very well somewhere. In reality, the ROI of the coin increased over a previous couple of weeks but is witnessing a terrible downfall at present.

The coin’s 24-hour volume is estimated at about USD 50,725,407, while the coin’s market cap presently stands at about 1,166,766,151 USD.

However, it is observed that in total circulating coins there are about 25,927,070,538 ADA.

The rank of the coin, however, stays in the 12th position as of now.

AN EYE ON ADA’S RECENT JOURNEY

Cardano has been under the bear radar for the previous month, with prices continuously shifting below the baseline. From a high of $0.05138 on August 18, ADA’s price dropped to 10 percent on August 21 to $0.04624. In the next 3 days, Cardano’s price rose to $0.052176 to 12.76 percent.

But on August 29, it had a significant drop, reaching $0.044236 to 15.22 percent. Then, the ADA price shifted up slightly at $0.04736 within the next 5 days to the extent of 7.13 percent. With the bears continuing to put pressure, on September 12, Cardano dropped again to 5.74 percent to $0.04464.

Speaking of 16th September, the ADA coin’s cost was $0.04708, which is 5.60% greater.

SPEAKING ABOUT INVESTMENTS

At the start of the year, Cardano’s price was able to keep up its momentum, and this upward price momentum persisted until April.

Then, until the end of June, there were intermittent fluctuations. With the bears getting a solid foothold in July, prices were caught off guard and continuously reeling downward. Although the bulls are attempting hard to recover, owing to ongoing market volatility, they have not had much success.

As far as Cardano is concerned, it is expected to be in this phase for the short term and by the end of the year, when the market is expected to recover, it is likely to be trading around its $0.052 high 30-day value.

Investors cannot expect any returns from this current market volatility, but they can invest from a long-term perspective.

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About Zaryab Afser

A stock market trader, a blogger , a cryptocurrency enthusiast ... Awareness of proper trend and Action at the correct time are the 2 most imperative tools to succeed in the crypto world. He will undoubtedly provide you with the first tool. Moreover he ensures that his readers never miss any data or news of the crypto world that might end up shifting your trade to the zenith of its glory. Cheers.

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