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Cardano {ADA} price analysis and prediction for the following day; institutional interest intensifies in Japan

Bitcoin

Cardano is ranked at #12 underneath TRON on the market. The trading volume recorded stands at roughly $54.048 million, whereas the supply has 25.927 billion ADA coins included as part of the circulation. The total market cap of Cardano amounts to $1.118 billion. The price ascended at a rate of 5.86% in the course of the past 24-hours; this brought ADA all the way up to $0.043141 where it currently rests.

According to the candlestick chart associated with the ADA/USD pair on tradingview [based on data obtained from the Bittrex Exchange], buyers are back in action as activity from sellers has declined. The daily RSI [for 14 periods] is at 51.84 which signifies that Cardano is part of the neutral zone. From 7th October onwards, the MACD line had jumped up over the signal line causing the histogram to go green and switch sides.

The Ichimoku Cloud may be transformed by the end of this month. Post-29th-September, the peaks tied to the Awesome Oscillator [created beneath the zero line] all possessed the green color, pointing to a possible trend change encompassing Cardano. Thus, $ADA may well be on its way to target the $0.046435 mark; support lies near the $0.037566 level.

Cashless Payments are a growing trend in Japan. From henceforth, ToStart [a Coworking space] will welcome ADA coins being used as a mode of payment. One can also spend other cryptocurrencies at this same location via PayPay.

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.