Even as most major cryptos are trading in the red, Cardano is struggling to trim its losses. The coin saw its value drop more than 7 percent on Thursday. However, in the last one week, the digital asset had gained around 6.5 percent in value.
The upcoming expiry of the CME Bitcoin Futures has hit the prices of all major altcoins and is among the reasons why the crypto market is currently volatile.
The virtual currency breached a key support level, which can be traced at $0.105. The coin has since fallen further to as low as $0.097. The crypto is struggling to cross the $0.100 mark, but has managed to break out from the current resistance level, noted at $0.099.
At the time of writing, the MACD showed that ADA was trading in bearish territory. The 100 EMA line indicated that the coin was in a downtrend. The crypto was exhibiting a significant trading range of $0.096-$ 0.108. As of 2232 GMT, ADA had fallen 5.2 percent against the U.S. dollar to trade at $0.1004.
The coin had inched 3.7 percent lower against BTC at the time of writing. Currently, one ADA is equivalent to around 0.000014 BTC.
Cardano Price Prediction 2018, 2020
According to Smartereum, experts believe the coin could reach around $2.5 in one year. Experts believe the coin could trade at $10 in five years.
Oracletimes.com author Pedro Bernardo has predicted that ADA’s price could climb to around $1.50 by the end of this year.
Longforecast.com has predicted that the crypto will reach $1.89 by December 2020, which is quite a conservative forecast and seems to be less optimistic than other predictions.
Cardano Latest Updates
Crypto exchange Bittrex recently introduced two new USD trading pairs to its trading platform. The exchange tweeted that it will launch USD markets for Cardano and ZCash ZEC The platform exchange supports both personal and corporate accounts for USD trading, deposits, and withdrawals.