Cardano (ADA) is now trading at $0.992, a 2.73% drop from Friday’s value of 1.021M. The cryptocurrency’s price has been on a declining trend since the start of February.
Within the next 24 hours of trading, ADA is expected to trade at a low of $0.989 and a high of 1.04M. It has a 24-hour trading volume of USD 1,415,938,600M, with a market cap lower than previous weeks.
Cardano’s price may retrace by 23.6% on its first level, according to the Fibonacci Retracements level. The FR level indicates where support and resistance are likely to integrate.
The group also forecasted that the smart contracts-enabled, peer-evaluated currency will end the year at 2.72M.
Its price could be headed in that direction as soon as investors build some upward momentum, with the current trend offering a buying opportunity.