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Cardano (ADA) Price Analysis for August 28

Sun, 08/28/2022 - 23:00
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Denys Serhiichuk
Has Cardano (ADA) reached support levels yet?
Cardano (ADA) Price Analysis for August 28
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Bulls could not hold the initiative until the end of the week as none of the main coins could grow.

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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.

BTC, ADA and BNB Price Analysis for August 27

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.

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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