E Point Perfect
Crypto

Cardano (ADA) Price Analysis for August 28

[ad_1]

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 could not hold the initiative until the end of the week as none of the main coins could grow.

Top coins by CoinMarketCap

ADA/USD

The price of Cardano (ADA) has gone down by 0.67% since yesterday, while the rate has dropped by 3.77% over the last week.

ADA/USD chart by Trading View

On the local time frame, Cardano (ADA) is trading near the hourly level at $0.4420. If bulls cannot seize the initiative shortly, there is a chance to see a further drop to the $0.44 mark.

ADA/USD chart by Trading View

On the daily chart, the price is located in the middle of the channel between the support at $0.4257 and the resistance at $0.4741.

Currently, one should not expect any sharp moves as neither side has accumulated enough strength for a further move.

ADA/USD chart by Trading View

On the weekly time frame, the situation is a bit different. Cardano (ADA) has made a false breakout of the $0.4347 level. While the price is above it, bulls have a chance for a local bounce back. If that happens, one can expect a rise to $0.50 in the mid-term.

ADA is trading at $0.4418 at press time.

[ad_2]

Source link

Related posts

Ripple Scam Promoted by Hacked Twitter Account of American TV Sports Channel

Binance Halts Deposits and Withdrawals of Defunct Terra Ecosystem Tokens: Details

Decentraland DAO Issues $1 Million in MANA to Support ICE Liquidity

Crypto Lawyer Says SEC’s Victory Over LBRY Is Not End for Ripple

Crypto Market Review, Nov. 30

Telos Blockchain Partners with ApeSwap, BSC-Based DEX