All ICOICO statsRatingReviewsBlogNews Wallets Mining Exchanges Chart Events
Join

Slow Weekend Sees Cardano Drop By 8%

22 december 2018, 23:48 by John Kiguru

Slow Weekend Sees Cardano Drop By 8%

Although the market went into the weekend strong, the momentum has not been persistent, seeing most coins drop positions. The weekend has always been unpredictable and the market has always responded to this with red.

Fortunately, most coins had established a high resistance level strengthening their position and ensuring they hold a high support level.

At the time of press, bitcoin has dropped below $4,000 but is still holding strong and trading above $3900. XRP has also slowed down and is trading just above $0.35, while Ethereum stands at just over $111. The result of all this has been the total market cap dipping below $130 billion. Regardless of this short dip, experts remain optimistic that the rally experienced in the last week will persist for the remainder of the year.

Cardano ADA has today seen a huge drop and at the time of press is down by 8%. This has seen the coin drop to a little over $0.039 in value at the time of writing this. This drop plays in favor of Tron which recently overtook Cardano in ranking, as Tron- which is not experiencing as such a loss, extends its gain in market cap.

In the coming hours, the market might extend its losses even though bulls will be adamantly fighting to keep prices up. As the weekend comes to an end, these prices are expected to pick up, a pattern the market has recently set.

Cardano enthusiasts are now hoping that the price drop does not extend past the 10% mark as this would trigger a panic sell-off. In addition, it would make it harder to bounce back from the dip and rally again. This also goes for the wider market which will try to limit losses until a rally is triggered again.

Follow TokenTops on Twitter and Join Our Telegram Group to stay notified about new articles, cryptocurrency news, ICO announcements and price predictions and analysis.

Legal Disclaimer: Please remember that trading, buying or any other type of investing in cryptocurrencies should be consider risky and may lead to the loss of all of the invested money. For further information visit Terms and Conditions section on TokenTops. We do not encourage our readers to any kind of financial decisions. Neither tokentops.com nor its parent companies accept responsibility for any loss, damage, or inconvenience caused as a result of reliance on information published on, or linked to, from tokentops.com. We believe that everyone should make their own and in depth research on the particular topic in various sources before making any financial decision and this person should be the only one responsible for the outcome. Our writers do their best to remain unbiased and don't actively support any project. The research is done with various sources, the predictions are based on own believes, analytical skills, experts and community discussions and is intended to convey general information only. 

You may also like

Comments

Write comment 0 comments

You need to login to create comments.

Get the week’s best ICO right in your inbox