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Cardano price analysis 20 September: ADA token scores modest gains in early trading

Posted: 20 September 2018 3:59 am
News

Cardano jumps up, while other coins remain flat or fall.

Key takeaways

  • Cardano's price has been see-sawing but remains up in early trade.
  • Trading volumes are up around 16% over the past 24 hours.
  • ADA and XRP are the only two top ten cryptocurrencies by market cap showing gains this morning.

Cardano is one of the few cryptocurrencies in the green today, trading around 3% higher over the last 24 hours.

The coin, like many others, saw a spike in value during trading yesterday, rising from US$0.068 to US$0.074. Overnight ADA slipped back down to its previous price of US$0.068 but regained some losses this morning.

Cardano

Despite the positive sentiment, the token's price remains significantly lower than its monthly high of US$0.108, recorded on the first day of September.

In January 2018, ADA hit a peak value of US$1.320.

At the time of writing, ADA was valued at US$0.070.

24-hour trading volumes have jumped up (16%) from US$67 million yesterday to US$78 million today.

Ethereum World News reports that the ADA/USD trading pair made it above the major $0.0720 mark, signalling that a correction could be on its way. However, it's possible that $0.0720 could hold ground as a strong support.

Crypto Daily UK analysts suggest that Cardano finally touched the bottom of the pitchfork formation it has been trading in. Cardano has reached rock bottom against bitcoin and is seemingly set for an "explosive rise".

In related news, the United Kingdom's Financial Conduct Authority (FCA) declared that bitcoin and crypto-assets are ill-suited to retail investors, and investors in these assets should be prepared to lose all their money.

Visit these pages to learn all about different exchanges, understand exactly how to buy and sell cryptocurrencies, calculate your taxes, discover digital wallets to hold assets and explore a list of all the alternative coins on the market.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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