- Cardano price has been able to stay above the baseline for the latter part of Oct 20 as seen from the one-day price chart
Cardano (ADA) price is trying to regain its lost cover in the ongoing bearish market sentiment. With the bears still strong, this looks a little tough for the coin though it did try and beat the odds by moving above the baseline in the said time period. The price of ADA moved in the range of $0.038–$0.039, though the price range is narrow, still it is giving hope to the community in this volatile market.
Cardano Price Analysis:
Cardano started trading on a low note but ended above the baseline by the end of the day on October 20, as seen from the one-day price chart. The price of ADA was at $0.039 which slipped by mere 1.21% to trade at $0.038 at 6:01 UTC. It then moved slightly soared up to trade at $0.039 by 0.73%. With the volatility in full swing the price again fell to $0.038 at 10:42 UTC, the fall being to the extent of 0.78%. Later, the price started having an upward rally and went above the baseline and reached $0.039 at 23:00 UTC, the rise being to the tune of 3.02%. The current trading price is $0.039 showing a slight downward variation to the extent of 2.31% when compared to the latter price.
ADA is trying to move away from the bear grip though the bear pressure is still quite strong. The coming days will decide where the price is headed in this current crypto market volatility. Analysts are hopeful on the capability of ADA to come out of this volatile market by the year end when the market is expected to show stability. Investors can make use of this opportunity to make more investments as the crypto market is expected to bounce back after a short-term bearish trend. Day traders can still make gains if they study the volatility and time their investments.