E Point Perfect – Interesting and beneficial content

Cardano (ADA) Price Analysis for October 21


Bulls could not use the slight bounce back to seize the initiative as all of the top 10 coins are again in the red zone.

Top 10 coins by CoinMarketCap


Cardano (ADA) remains one of the most bearish coins with a decline of 4.92% over the last 24 hours.

ADA/USD chart by TradingView

On the hourly chart, Cardano (ADA) has set the local support level at $0.3343, formed by its false breakout. However, the rate is coming back to it, which means that bulls are not yet strong enough for a short-term rise.

If the decline continues, there are chances to see ADA at around the $0.33 zone soon.

ADA/USD chart by TradingView

Cardano (ADA) has broken yesterday’s low at $0.3364. If buyers cannot return above it by the end of the day, one can expect a further drop to the $0.33 mark.

ADA/USD chart by TradingView

On the weekly time frame, Cardano (ADA) reached the far retest level at $0.3321. At the moment, one should pay attention to that mark as, if the bar closes below it, the accumulated strength might lead to the test of the $0.30 zone next week.

ADA is trading at $0.3362 at press time.


Source link

Related posts

SHIB Shows 7.4 Million Percent Rise in Trading Volume, What’s Happening?

Ripple CTO Declares NFT Revolution on XRP Ledger

Trillion SHIB Wired as Trading Volume Spikes 7,449,053.83%

Litecoin Outperforms with 25% Weekly Gains, Reenters Top 20

Dogecoin Solidifies Its Profitability as Rate Reaches 63%

$1,200 ETH Is in High Demand According to This Data