As of today, the value of Cardano is at $0.257673 in US dollars. In the last 24 hours, Cardano has experienced a decrease in value by 2.35%, with a trading volume of $165,050,849 USD. It is currently ranked #8 on CoinMarketCap, with a market cap of $9,054,224,011 USD.

The total amount of ADA coins currently in circulation is 35,138,403,981, while the maximum supply is 45,000,000,000 ADA coins.

ADA’s value has begun to drop once again, dipping below the $0.264 mark. The coin may experience further decline should it fail to maintain support at $0.250.

  • The price is currently trading above the 100 simple moving average (4 hours) at $0.250.
  • On the 4-hour chart of the ADA/USD pair (data source from Kraken), a key bullish trend line with support near $0.258 was broken.
  • To initiate a new surge in the near future, the pair must remain above the $0.250 support level.

Unlocking the Potential of Cardano: A Comprehensive Analysis of its Technology and Future Prospects

Over the past several days, Cardano’s value has risen above the $0.255 mark and surpassed the $0.265 hurdle, but its upward momentum has been limited. The price reached a peak of $0.2741 before undergoing a recent correction, similar to Bitcoin and Ethereum.

Notably, the $0.265 support level was breached and a crucial bullish trend line near $0.258 was broken on the ADA/USD pair’s 4-hour chart.

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Currently, Cardano is assessing the 61.8% Fib retracement level of its climb from the $0.2426 swing low to the $0.2741 high. Despite this, ADA remains above $0.250 and the 100 simple moving average (4 hours).

ADA/USD price chart – source: trading view

On the positive side, the immediate resistance is around the $0.258 mark. The first significant resistance level is forming near the $0.265 mark, followed by the next key resistance level of $0.274. If the price manages to close above the $0.274 resistance level, it could potentially start a significant increase. In that case, the price could rise towards the $0.300 resistance zone.

How to Minimize Losses in ADA: Tips and Strategies

In the event that Cardano’s value is unable to surpass the resistance level of $0.265, there is a possibility that it may continue to decrease. The immediate support on the downside is approximately $0.250.

If the $0.242 level is breached, it could lead to a significant and sudden decline towards $0.220. The next significant support can be found at the $0.200 level.

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