Cardano Down More Than 5% Within 24 hours
Portfolio Pulse from Benzinga Insights
Cardano (CRYPTO: ADA) has seen a price decrease of 5.05% over the past 24 hours, falling to $0.37 despite a weekly uptrend of 5.0%. The trading volume has increased by 12.0% over the past week, and the circulating supply has risen by 0.03%, bringing it to 34.95 billion ADA, which is 77.68% of the max supply. Cardano's market cap is currently ranked #9 at $12.75 billion.
November 13, 2023 | 3:00 pm
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NEGATIVE IMPACT
Cardano's price has dropped by over 5% in the last 24 hours, indicating a short-term bearish trend despite a recent weekly uptrend.
The immediate price drop of over 5% is a strong bearish signal for short-term traders, which could lead to further selling pressure. However, the increase in trading volume and circulating supply, along with the overall weekly uptrend, may cushion the impact and indicate potential for recovery.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100