- The Cardano Price Has Suffered a 30% decline from its All Time High Of $3.10 Registered Just On September 6
- Although ADA has continued its descent, there are possibilities of a small recovery in the offing
- Uncertainty in the crypto market has spooked investors with the Cardano price experiencing a considerable downturn over the past two weeks.
The Cardano price is currently trading at the$2.11 level which is a 20% descent from the $2.50 level that was seen only a couple of days ago. Additionally, ADA is off by around 30% from the All Time High of $3.10 that was last seen on September 6 after a disappointing couple of weeks for the crypto market in general.
The uncertainty and volatility currently plaguing the crypto market has had a considerable effect on Cardano. Although the ‘Ethereum Killer’ has been touted as the coin that should explode this year, its latest performance has been disappointing. Still, one should keep in mind that Cardano exploded by over 1000% this year and once this period of volatility is over, is expected to continue on a further uptrend.
If you haven’t yet bought some Cardano, then you should take a look at this How To Buy Cryptocurrency Beginner’s Guide.
Short Term Prediction For Cardano Price: More Instability Expected Although Price May Recover Slightly
The Cardano price has been on a consistent descent since the September 7 flash crash and has flirted quite dangerously with the $2 level yesterday. However, it has appreciated around 2.5% since that drop and is currently trading at just around the $2.11 level.If a bullish scenario were to take over, then the Cardano price would probably make a beeline for the $2.20 level where the first level of resistance may be encountered. If that is broken, then a rise up to the $2.35 mark may be expected although there needs to be a shift in the markets for this to occur.
If a bearish thesis were to play out, then one may expect the Cardano price to retest the $2 mark with a possible dip below that level as selling pressure resumes. This may also be a price point where a comeback is most likely to occur.
If you want to buy or trade cryptocurrency and haven’t done so yet, you should take a look at these Top Cryptocurrency Brokers.
Long Term Prediction For ADA: Still Bullish Although Pitfalls Remain
Although the Cardano price has suffered a considerable hammering of late with at least 30% shaved off its all-time high, the long-term prospects still look good. Many analysts are looking at a $4 level by the end of the year with others even more bullish.
As with other major coins, a lot depends on price movement and the general market situation. With the crypto market currently experiencing considerable instability and volatility, one may need to wait patiently before making any investment decisions.
Where to Buy Cardano
If you want to purchase ADA, you can do so on the following exchanges:
• eToro
eToro is one of the trusted exchange platforms in the crypto space. eToro supports copy trading, which allows new traders to learn from market experts. eToro also charges low trading fees and commissions.
• Binance
The other platform where you can buy Cardano is Binance. Binance is one of the largest exchange platforms. It supports a wide range of cryptocurrencies and trading pairs. It also offers user-friendly features.
Looking to buy or trade Cardano now? Invest at eToro!
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Gerald Fenech
