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Cardano (ADA) Price Analysis for August 25


Bulls could not keep the gained initiative until the end of the day, and most coins are again in the red zone.

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Cardano (ADA) could not withstand bears’ pressure, going down by 0.18%.

ADA/USD chart by Trading View

Cardano (ADA) is coming back to the local support level at $0.4599, which means that there is a high chance to see a further drop. In this case, the drop can continue to the mark of $0.45.

ADA/USD chart by Trading View

On the daily time frame, nothing is crucial is hapenning as the price is located in the middle of the channel, between the support at $0.4347 and the resistance at $0.4726.

Likely, ongoing sideways trading is the more likely scenario for the next few days.

ADA/USD chart by Trading View

On the bigger chart, Cardano (ADA) is bearish as bulls could not restore the price to the $0.50 mark and above. From another point of view, the rate is above $0.40, which means that it is too early to consider a further drop. All in all, consolidation between $0.46 and $0.47 is a more probable price action.

ADA is trading at $0.4618 at press time.


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