Cardano (ADA) is now trading at $0.992, a 2.73% drop from Friday’s value of $1.021. The cryptocurrency’s price has been on a declining trend since the start of February.
Within the next 24 hours of trading, ADA is expected to trade at a low of $0.989 and a high of $1.04.
It has a 24-hour trading volume of USD 1,415,938,600, with a market cap lower than previous weeks.
Cardano’s price may retrace by 23.6% on its first level, according to the Fibonacci Retracements level. The FR level indicates where support and resistance are likely to integrate.
In the medium term, the support level for ADA is at $0.823, although this level isn’t very stable.
If the price rises from this level, it will reach $0.98, its previous high, and then heighten towards $2.
Cardano’s future appears to have great hopes of further trading and an increase in stock prices.
Its volatility is also expected to reap bountiful harvests as investments in its tokens become more mainstream.
According to the researchers, the price of Cardano will touch $58 by 2030.