Cardano Managed To Come Close To All-time High

In recent news, there has been a lot of fresh interest for Cardano as of late. This has resulted in ADA managing to come close to the all-time high price that it had enjoyed previously. Cardano had made a run for its all-time high price just a couple of days ago, and this had occurred after there had been renewed interest in ADA from investors following its recent success.

Cardano hit the price of $1.47

The asset had reached its all-time high price on March 18th following some renewed retail interest. During this time, it had reached a price figure of $1.47, which was just a little short of the previous all-time high of $1.48 that had been set during the end of last month.

As per Cardano’s 1-hour chart, it is easy to see all the higher lows that the asset has managed to make since its correction, and it indicates an upward rising trend line. As of the time of this writing, the price currently rests at $1.18 and is currently in the bearish zone. Also, as Cardano went through the recent downward move, its digital currency ADA did not, however, fall to the point where it could hit the 200 periods MA.

ADA falls 20%, hitting $1.18

As is the nature of cryptocurrency, volatility is to be expected in this industry. Just this past Thursday, following a couple of attempts at reaching the all-time price, the asset’s price decreased by almost 20%, therefore hitting $1.18. Interestingly enough, this had happened around the same time as a recent correction that had taken place in Bitcoin’s price. It should be mentioned that the latter’s correction was nevertheless a bit smaller yet similar nonetheless.

In another recent announcement, it was revealed that ADA would be added to the Coinbase Pro platform. Trading is said to take place only if certain requirements are met, namely regarding liquidity conditions. As of the time of this writing, it would seem that ADA is indeed trading on the aforementioned exchange.

As of right now, ADA is undoubtedly one of the biggest crypto assets as far as market capitalization is concerned.

Author: MubaShar Nawaz
MubaShar Nawaz is an experienced writer working for TheForexPro.info. Having passion for writing, he covers news articles from the finance and trading world.

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