Cardano is somehow keeping in-step with cryptocurrency frontrunners Bitcoin and Ethereum, sitting on price increase on its intraday chart.<\/p>\n
Cardano failed to hold the $0.41 crucial support range and settle to the new support marker of $0.36
\nADA is forecasted to trade from $.0403 to $0.416 in the coming days
\nCardano addresses grow despite bearish market sentiments<\/p>\n
Tracking from Coingecko<\/a> shows the smart contract token is trading at $0.371, raising its price by almost 1% during a 24-hour period.<\/p>\n The altcoin, however, continues to struggle as it remains in the red zone on its 7-day and 14-day metrics, going down by 7.6% and 13.3%, respectively.<\/p>\n Investors, holders and traders are keeping close watch on the price movement<\/a> of the crypto as it tries to bounce back after failing to sustain the $0.41 crucial support marker.<\/p>\n At first it appeared the asset was in for another steep fall, but it managed to cling into a new support range which could prove to be significant in determining the trend of its next price rally.<\/p>\n Cardano Hangs On To $0.35 Support\u00a0<\/p>\n As seen from Cardano\u2019s trading chart, the Bollinger band (blue line) continued to drop as ADA failed to hold the critical $0.41. It only stopped upon reaching the $0.35 marker.<\/p>\n Source: TradingView<\/a><\/p>\n Meanwhile, the crypto\u2019s Relative Strength Index (RSI) tallied a low value of 23.4 which indicated Cardano was in oversold position and is primed for a price uptick.<\/p>\n If ADA manages to sustain its new support marker, a surge ranging from $0.403 to $0.416 will likely to happen over the next few days, enabling the token to start its own recovery along with other members of the crypto space.<\/p>\n However, if Cardano fails to hold this position again, bears will be given opportunity to gain profit as ADA will likely fall all the way to $0.336.<\/p>\n ADA Addresses Grow Despite Weak Value<\/p>\n In September 2021, Cardano managed to hit an all-time high value of $3.09. The crypto, however, already lost 80% of that value and continues to struggle to get even just to $1 marker.<\/p>\n But despite the immense price tanking that the asset continues to experience since hitting its ATH, retail investors seem to be unfazed.<\/p>\n In fact there is a noticeable increase of ADA addresses, indicating the crypto is still commanding interest among participants in crypto space.<\/p>\n Holders of 100 to 1,000 Cardano tokens are now accounting for 1.15% of the network\u2019s circulating supply, going up by 0.23% from the previous tally of 0.92%.<\/p>\n Meanwhile, an almost identical increase is also observed to holders of 1,000 to 10,000 ADA coins which grew by 0.59%.<\/p>\n\n ADA market cap at $12 billion on the daily chart | Featured image from Shutterstock, Chart: TradingView.com<\/a><\/p>\n Disclaimer: The analysis represents the author’s personal views and should not be construed as investment advice.<\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n Cardano is somehow keeping in-step with cryptocurrency frontrunners Bitcoin and Ethereum, sitting on price increase on its intraday chart.<\/p>\n Cardano failed to hold the $0.41 crucial support range and settle to the new support marker of $0.36 Tracking from Coingecko<\/a> shows the smart contract token is trading at $0.371, raising its price by almost 1% during a 24-hour period.<\/p>\n The altcoin, however, continues to struggle as it remains in the red zone on its 7-day and 14-day metrics, going down by 7.6% and 13.3%, respectively.<\/p>\n Investors, holders and traders are keeping close watch on the price movement<\/a> of the crypto as it tries to bounce back after failing to sustain the $0.41 crucial support marker.<\/p>\n At first it appeared the asset was in for another steep fall, but it managed to cling into a new support range which could prove to be significant in determining the trend of its next price rally.<\/p>\n Cardano Hangs On To $0.35 Support\u00a0<\/p>\n As seen from Cardano\u2019s trading chart, the Bollinger band (blue line) continued to drop as ADA failed to hold the critical $0.41. It only stopped upon reaching the $0.35 marker.<\/p>\n
\nADA is forecasted to trade from $.0403 to $0.416 in the coming days
\nCardano addresses grow despite bearish market sentiments<\/p>\n