The rate of Cardano and US Dollar on the Forex market is relevant for those wishing to earn on the change of quotes. Trading is done around the clock, and the rate is updated online. It is possible to earn money both in the daily session, and in the long term, but it is more difficult because of the specific features of the Cardano cryptocurrency. Trading the pair is popular, and according to statistics, it is used by up to 15% of traders.
Statistics on daily sessions
The average value of volatility is 15%, on some days (not more often than once 3-4 months) there is a breakthrough levels and the growth of 20-25%. There are 3-4 distinctive peaks every day.
Factors influencing rate fluctuations of the pair
The most important factors of fluctuations in the pair's exchange rates should include:
- the news background: the positive news about the introduction of new instruments in the blockchain platform ADA will naturally increase it, which will not be said about the court proceedings in connection with the theft of coins from one of the exchanges;
- changes in the U.S. central bank rate, the geopolitical situation in the world;
- the number of mentions in social networks pushes the rate up, the reduction of mentions reduces the interest of the public masses and, as a consequence, the demand.
Technical Analysis
There are many trading robots that trade the Cardano pair and the USD, so it lends itself to analysis and pattern detection. You can predict the breakdown of the level and manage to make profit on it. Recently, technical analysis has become worse due to active changes in the entire cryptocurrency market, so it is worth repeatedly calculating the risks of the transaction.
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