- Cardano (ADA) price action shows an amazing rebound
- Intraday trading looks thriving
Cardano is currently on an uptrend as the coin has risen sharply since the opening hour and the escalation is likely to break yesterday’s high records. The traders who have invested in the past need to be aware of the dynamics of the coin. The first quarter of 2020 would bring some amazing results, and the ADA coin would be one of the coins that could generate high dividends. The coin’s upcoming period is also expected to be results driven.
ADA / USD pricing table:
TradingView’s ADA / USD chart
Cardano was trading at $ 0.0492 during the opening period yesterday. The price fell to $ 0.0482 over the next two hours but soon marked a rebound and rose back to $ 0.0492. The price kept volatility for the remainder of the day. The coin slipped to $ 0.0479 at 07:07 UTC and after hanging there for a while, the coin improved 3.42% to $ 0.0495. ADA price fell 4.11% to $ 0.0474 but immediately rebounded, trading at $ 0.0487.
The closing and opening prices were almost the same, so the marked regression was marginal. Today Cardano has picked up a completely different dynamic. After a sluggish start, the coin improved overall. The price counters moved 3.09% from $ 0.0482 to $ 0.0497. The coin holds the $ 0.0497 level. At 06:40 UTC, the price of Cardano coins dropped to $ 0.0491 but soon rebounded to $ 0.050 and has now returned to $ 0.0497.
According to the MACD chart, the histogram reflects the bullish influence. The MACD and the signal line have a bullish crossover as the former has overlapped with the later.
Cardano has broken the immediate resistance level of $ 0.0494 and the coin is almost near the next resistance level at $ 0.0501.