Cardano (ADA) Price Analysis for September 21


Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Bulls are back in the game, according to the CoinMarketCap ranking.

Track live crypto price of 10000+ coins!


Top coins by CoinMarketCap

ADA/USD

Cardano (ADA) has followed the bounceback of Bitcoin (BTC), going up by 2.38%.

ADA/USD chart by Trading View

On the local chart, Cardano (ADA) has bounced off the hourly support level at $0.4417 against the increased volume, which means that buyers have the efforts in place for a slight rise. If the growth continues to the resistance at $0.4574, the upcoming day may also become bullish.

Related:  Shorting Cryptocurrencies: How to Make Profits in a Downtrend

ADA/USD chart by Trading View

On the longer time frame, the situation is unclear, as buyers have not accumulated enough power for a rise despite today’s growth.

One can make any price projection based on a possible further rise only when the rate gets back to the $0.48-$0.49 zone.

ADA/USD chart by Trading View

The same situation can be seen on the weekly chart as bears’ pressure remains relevant as the price gets closer to the support than to the resistance. If the drop continues to the important $0.40 mark, it might generate a sharp decline to the $0.35 zone.

ADA is trading at $0.4493 at press time.


Download MAXBIT Android App, Your best source of all crypto news!

Google Play

Source link

Share this article: