Cardano (ADA) Price Analysis: Short-Term Rise Expected
Read the latest analysis on the price of Cardano (ADA) and discover when traders can expect a short-term rise. Find out the current market conditions and future projections for ADA/USD.
Posted 10 months ago in Market Analysis
![A line graph showing the price trend of Cardano (ADA) over time.](https://cdn.midjourney.com/1b05121e-b373-4df1-8fed-30492bde19a5/0_0.png)
Traders are eagerly watching the price of Cardano (ADA) as buyers regain control in the market. According to CoinMarketCap, ADA/USD has seen a 2% increase in the last 24 hours. On the hourly chart, the local support level of $0.2476 has been broken, indicating a potential rise if the bar closes above this mark. The resistance level of $0.2479 has also been surpassed on the bigger time frame, suggesting that buyers are currently more powerful than sellers.
If the price continues to climb, it may reach the $0.25 zone tomorrow. In the midterm, however, bulls need more time to accumulate power, and a sideways trading range of $0.2450-$0.2550 is expected until mid-October. At the time of writing, ADA is trading at $0.2488.
Last updated 9/28/2023, 4:30:58 PM
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