Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Cardano Price Analysis: What to Expect in the Next 48 Hours

Published 01/29/2023, 02:53 AM
Updated 01/29/2023, 03:00 AM
Cardano Price Analysis: What to Expect in the Next 48 Hours

  • ADA’s price is down 1.83% over the last 24 hours.

  • The altcoin’s price is looking to retest the resistance level at $0.3888.

  • Technical indicators suggest that ADA’s price will rise in the coming 24-48 hours.

Cardano is a third-generation, decentralized proof-of-stake (PoS) blockchain platform designed to be a more efficient alternative to proof-of-work (PoW) networks. Scalability, interoperability, and sustainability on PoW networks like Bitcoin are limited by the infrastructure burden of growing costs, energy use, and slow transaction times.

Current Market Standing

Cardano (ADA) is ranked as the 8th biggest project in terms of market cap, according to CoinMarketCap, and experienced a 24-hour price drop of 1.83% – taking its price down to $0.3861 at press time. The Ethereum-killer’s market cap currently stands at $13.35 billion.

Meanwhile, ADA’s 24-hour trading volume currently stands at $303,771 million. Furthermore, the price of ADA is nearer to its 24-hour high at $0.392212. The altcoin’s daily low stands at $0.379802.

Despite ADA’s price dropping over the last 24 hours, the weekly performance for the altcoin’s price remains in the green at +7.33%.

Technical Overview

The post Cardano Price Analysis: What to Expect in the Next 48 Hours appeared first on Coin Edition.

See original on CoinEdition

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.