Price Analysis

Cardano (ADA) Price Could Lose Out On Its Support At $1 If This Happens!

Written by: Elena R

Written by right arrow

Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

  • author twitter

Dec 7, 2021

news-image

Cardano is paving its way to the limelight amidst the increase in buzz in the protocols utility and growth metrics. Cardano holders have been keen on a trend reversal as the network is witnessing a steady hike with a number of utility-based applications in the pipeline.

Advertisement

The market crash has shown no mercy on digital assets from the business. As a result of which numerous digital coins have registered double-digit losses. To levels around 40 to 70% in most of the altcoins. Cardano network hits a new milestone in its growth metrics. Meanwhile, a proponent from the industry edifies on the price trajectory of ADA.

Cardano Sails The High Tides Undeterred!

   The Cardano network gets another feather to its cap, as according to sources the numbers cross 1 million wallets staking ADA. This is in addition to the network managing to outstrip the 20 million transaction mark a couple of days ago. 

The network will also be hosting DEXes on its network. Which are expected to release by the Christmas holidays as CoinPedia had earlier reported. The testnet of the decentralized exchange SundaeSwap is now live. Consumers can participate in experiencing the DEX while suggesting improvements for the same.

Cardano (ADA) Price

 ADA at the time of writing is trading at $1.31 while registering dips of about 4.8%. The market cap of ADA is currently floating at about $41,946,313,810. While the trade volumes around the clock are at $2,445,684,480. The digital asset has been trading in the bandwidth from $1.26 to $1.38 since the previous day.

The crypto analyst enlightens on the price projections of ADA that it has been rhyming a similar trajectory. He further mentions that breaking the support while the RSI is resetting will take the price of ADA to levels around 0.00002734 to 0.00003000 SATS. The next level of support if lost the previous one would be at 0.00002332 SATS.

Collectively, the ADA price holding above the $1 price tag despite the odds is praiseworthy. The number of stakeholders has been backing ADA prices to a greater level. With the upgrade to the next era, and more adoptions flocking in, we might expect the digital coin to raise its bars to higher levels.  

Show More

Was this writing helpful? myImage dislikeimage

Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

Related Articles

Back to top button