Cardano price analysis shows rising signs as the market shows bearish dynamics. The bears have fully regained their control of the Cardano market, which will change the course of the market for the worse, and ADA now expects a complete bearish period to take over in the next few days. However, the bulls will do everything in their power to regain their control. The market shows the price of Cardano crashed yesterday to the $0.3954 mark but spiked soon after to $0.4004. Cardano continues a massive negative movement. Furthermore, Cardano prices decreased again today, on February 5, 2022, and reached $0.3928. ADA currently trades at $0.3928.
Cardano’s price today is $0.393166, with a 24-hour trading volume of $611.47M, a market cap of $13.30B, and a market dominance of 1.21%. The ADA price decreased by 2.83% in the last 24 hours.
Cardano reached its highest price on Sep 2, 2021, when it was trading at its all-time high of $3.10, while Cardano’s lowest price was recorded on Oct 1, 2017, when it was trading at its all-time low of $0.017354. The lowest price since its ATH was $0.239551 (cycle low). The highest ADA price since the last cycle low was $0.413399 (cycle high). The Cardano price prediction sentiment is currently bearish, while the Fear & Greed Index shows 58 (Greed).
Cardano’s current circulating supply is 33.82B ADA out of the max supply of 45.00B ADA. The current yearly supply inflation rate is 7.49% meaning 2.36B ADA were created in the last year. In terms of market cap, Cardano is currently ranked #2 in the Proof-of-Stake Coins sector and ranked #5 in the Layer 1 sector.
ADA/USD 1-day price analysis
Cardano price analysis for 24 hours illustrates that the present market condition demonstrates negative potential as the price moves downwards. Moreover, the market’s volatility follows an increasing movement, resulting in the cryptocurrency being more prone to differences on either extreme. As a result, the high price of ADA rests at $0.3946, with an open price present at $0.3938. Conversely, the low price of ADA is present at $0.3927, a change of -0.12%, and a close price of $0.3934.
The ADA/USD price travels under the Moving Average curve, indicating the market is following a bearish movement. However, as the market experiences high volatility today, the Cardano price has significantly more room to move towards either extreme. In addition, the ADA/USD price seems to move downwards, signifying a decreasing market with negative dynamics, showing breakout potential, which may result in a complete reversal of the market.
ADA/USD 1-day price chart Source: CoinCodex
Cardano price analysis reveals that the Relative Strength Index (RSI) score is 61 making the cryptocurrency enter the overvalued region. Furthermore, the RSI score moves downwards, indicating that selling activity is dominant while moving towards stability.
Cardano price analysis for 7-days
Cardano price analysis for one day has experienced a decreasing movement in the last few days. However, with the volatility decreasing. Moreover, as the volatility closes, it makes the value of the cryptocurrency less volatile to change. As a result, the high price of ADA rests at $0.4028, with an open price present at $0.4020. Conversely, the low price of ADA is present at $0.3926, a change of -0.02%, and a close price of $0.3938.
The ADA/USD price appears to cross under the Moving Average curve, displaying bearish momentum. However, the support and resistance are closing in, indicating decreasing volatility with less room for further activity on either extreme. Hence, the price moves downwards towards further decreasing characteristics.
ADA/USD 7-day price chart Source: CoinCodex
The Relative Strength Index (RSI) score appears to be 47, showing the cryptocurrency’s stable value. It falls in the central-neutral region. However, the RSI score follows a decreasing movement signifying a decreasing market and gestures toward decreasing dynamics. In addition, the decreasing RSI score indicates that the selling activity is dominant.
Cardano Price Analysis Conclusion
Cardano price analysis conclusion reveals the cryptocurrency’s value to be decreasing. The ADA/USD might soon enter a downright bearish dominion, decreasing the price of Cardano as they go. The bears are expected to maintain their control; as the market moves towards stability, they gain a substantial chance to maintain the market and further decline the value of Cardano.
