In the last 24 hours, Cardano’s price analysis is a bullish lower low. Due to that, we anticipate that ADA/USD recover some of its loss later as bears are worn out.
In the overall market, Coin360 reports that it is operating in the red zone with shedding 2.92% bitcoin and 0.34% of Ethereum. But, after crossing the $200 psychological support Solana is the best performer of the day.
Cardano price in the last 24 hours
Over the last few days ADA/USD pair increased from a low of $2.08 to a high of $2.24, showing volatility during that time. Although 27% Volatility has increased and totaled $2.78 billion as of this writing, placing the coin in the third position.
ADA/USD 4-hour chart
According to the 4 hours chart Cardano’s price action alters as bears run out of steam after a steep drop. Over the past few weeks, Cardano’s price has remained static.
Showing establishment of a high low of $2.30.Although, Cardano experienced consolidation with a lower high at $2.30 near the start of October.
In the coming days, Cardano price will retrieve its lost ground. We might expect bearish momentum if a lower high is made.
In conclusion, Cardano’s price shows to be uptrend after declining a lower low. However, in the next 24hours bearish momentum has run its course.
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