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Cardano (ADA) Price Analysis for February 11

Sat, 02/11/2023 - 14:10
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Denys Serhiichuk
Has correction of Cardano (ADA) ended yet?
Cardano (ADA) Price Analysis for February 11
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The weekend has started with an ongoing correction on the market as the majority of the coins are in the red zone.

Top coins by CoinMarketCap


The rate of Cardano (ADA) has declined by 0.39% over the last 24 hours.

ADA/USD chart by TradingView

On the hourly chart, the rate of Cardano (ADA) is accumulating power in the narrow channel between the support at $0.3585 and the resistance at $0.3620. Currently, neither side has seized the initiative. However, if the price can reach the upper level, the breakout may lead to a test of the $0.3650 mark soon.

ADA/USD chart by TradingView

On the daily time frame, Cardano (ADA) has fixed above the support level at $0.3543 formed by its false breakout. If buyers can hold the gained initiative and keep the rate above the $0.36 zone, the growth may continue to the nearest resistance around $0.37. Such a scenario is relevant until the end of next week.

ADA/USD chart by TradingView

On the weekly chart, the situation is less positive as the price is located below the low at $0.3652. If nothing changes by the time the candle closes, the correction may lead to a test of the $0.34 mark.

ADA is trading at $0.3605 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