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 8 months ago in Market Analysis

A line graph showing the price trend of Cardano (ADA) over time.

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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