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