Cardano price are experiencing consolidation. The price of this coin keeps increasing and decreasing. The bear candle is the only candle present from last week and the blockchain token consensus model of this coin is well implemented, there are just ups and downs. It is not the only token experiencing fluctuations, all tokens are currently experiencing fluctuations. Currently, you may have noticed some red candles in Bitcoin prices last week. The price of Bitcoin is around $65000 and it has fallen by about 5% in the last week.
If we focus on Ethereum Coin, Ethereum Coin is also unable to break its resistance right now, but soon it is going to break its resistance. At present there is panic among investors. Currently, the price of Ethereum is around $3400. This coin also saw a decline of about 7 percent among investors last week. Along with this, the Cardano coin also saw a decline of about 15%, but investors hope and believe that the value of the Cardano coin can exceed $2.
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cardano price
Till the time of writing the news, an increase of about 0.62% is being seen. Currently, its price is around $0.6381. If we talk about its market cap, then there is a growth of about 0.62% in it. And currently, its market cap is around $22,702,808,954. In terms of volume, there is a decline of about 30 percent in trading volume. Currently, its trading volume is $374,562,638. If we look at its weekly chart then investors have recorded a loss of around 5% and as we move towards its monthly chart investors have recorded a profit of around 8% in its monthly chart.
It is not performing that well but soon you can see this coin performing good candles. If we talk about last year, this coin registered a profit of about 80 percent to its investors in the last 1 year.
Cardano coin has seen a lot of ups and downs in the last few days and currently, it is showing signs of some improvement. It seems that due to investors the turnover is a little less and there is a slight drop in the price, but after a few days, you will see a good change in this coin. At this point, it is important to remain calm. If we look at things from every aspect, then people have a lot of confidence in the Cardano coin. This coin is breathing a sigh of relief at the moment.
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The crypto analyst claims that Cardano remains in a strong position after touching the resistance level of 0.69 and reaching a low of 0.54. There is a lot of stability in this coin, in recent times this coin has not declined as much as all other coins, this coin is still standing in front of people with the same strength. Even after the decline, this coin still can maintain its stability. Should be seen as around $1.
Will Cardano exceed $2 in 2024?
If we do a technical analysis of the daily chart of Cardano, its moving average convergence divergence is currently at 0.007 which is a signal for its investors. Suppose we talk about its RSI, which is currently at 44.871, which we call the Relative Strength Index. It also tells or indicates to you that there is no overselling and buying situation at the moment. This shows that the market is currently balanced and there may be no immediate major changes on this basis. So it is important to consider whether your 100 and 200-day holds indicate whether you can make good profits in the long run if you stick to it or if it is a positive sign.
If you maintain this point for a long time then you can register profit from this coin. If it falls then its support level is near $0.516 but currently, it is running slightly above its support level. If a rain candle is formed in this coin then its support level can fall to $0.143, although nothing like this is visible in the market right now. It will certainly fall. There is no indication of a low level. So its resistance level is near $0.751.
If the bullish pattern works then you can see another resistance in it which is $0.84. After it breaks above that, you can see the price reaching $1.083 if you last a long time. So this coin displays a lot of positivity about its price after breaking the resistance.
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If you look at it for a long time, there is a positive pattern in it. If Cardano manages to break its tight resistance then you could see its price reaching $2. If investors are thinking of taking steps in the short- term and long-term time then this is likely to provide support in the long term. And in the long run, both options can be positive for you if you also keep an eye on its charts and community sentiments.
If you pay attention to the sentiment of the community you can see it registering good profits as more people use the currencies and the discovery of innovations, technological improvements, and features can change its value, so it Can become a topic. Attraction for users.