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Cardano (ADA) Price Analysis for August 25

Thu, 08/25/2022 - 16:35
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Denys Serhiichuk
Have bulls run out of power for further rise?
Cardano (ADA) Price Analysis for August 25
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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.

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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.

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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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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at