- Cardano Price Retreats from Another High Of $2.97
- ADA Is Down By Around 10% And Trading At The $2.70 Level
- Long Term Potential Still Hot For The Smart Contract ‘Ethereum Killer’.
After having reached another impressive high of $2.97 on the 31 August, the Cardano price is down by around 10% and is trading at the $2.71 mark. It might be a good idea to fill your bags at this price as ADA may never trade at this low level again.
Although there’s still some uncertainty in the crypto market, it seems that the Cardano price is set for greater things as it pauses for a slight breather. ADA has been on an impressive ascendant since the July 20 low of $1.04 and has appreciated by almost 200% since that level. This is certainly one of the best price performances over the past month.
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Short Term Prediction For Cardano Price: A Pause For A Breather But More Upside On The Way
Although there’s a lull in the cryptocurrency market as a whole, the Cardano price remains extremely bullish. The price has retreated by about 10% over the past 24 hours after reaching another high of $2.97 but all indications are that this pullback is a healthy and momentary one.
If the bullish scenario continues to come into play, the Cradno price will make another beeline for the $3 level. If that resistance is overcome, then ADA would most probably continue moving forward with another 10% rise to the $3.30 level. After that, the sky’s the limit with the next resistance level at $3.70.
If a bearish thesis were to come into play, then the Cardano price might drop further and possibly scrape the $2.60 mark. A prolonged sell off would push the price further down to the $2.50 where support is quite strong. With all the buying interest in the market, this scenario seems pretty unlikely.
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Long Term Price Prediction For ADA: The $5 Level Should Not Be Too Far Away
As the Cardano rally pauses slightly, it should be important to note the impressive trajectory made by ADA since July 20. At that point, the price was at the low level of $1.04 but it careened upwards and over the next few weeks, the Cardano price actually went over the $3 level, a point it reached on the 23 August.
It seems likely that Cardano will continue moving forward as momentum continues to increase. Some analysts are predicting a $5 level by the end of the year although others are even more bullish than that and are predicting this to be reached by end October. What’s sure is that ADA offers some impressive opportunities for growth.
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.
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Gerald Fenech
