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Cardano (ADA) Price Analysis for February 13

Mon, 02/13/2023 - 20:00
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Denys Serhiichuk
Can one expect further drop of Cardano (ADA) this week?
Cardano (ADA) Price Analysis for February 13
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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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The market has not found the local bottom yet as the rates of most of the coins are going down.

Top coins by CoinMarketCap


Cardano (ADA) is one of the biggest losers from the list, falling by 4.25%.

ADA/USD chart by TradingView

Despite the fall, Cardano (ADA) is trading near the local resistance level at $0.3536 against the increased volume, which means that buyers are not going to give up so easily. If they can hold the initiative, the breakout of the mentioned mark may lead to a price blast to the $0.36 zone.

ADA/USD chart by TradingView

On the daily time frame, the price of Cardano (ADA) has made a false breakout of the support at $0.3469. In this case, the more likely scenario is consolidation in the range of $0.3550-$0.36, so the altcoin can accumulate more energy for a further move as none of the sides is controlling the situation at the moment.

ADA/BTC chart by TradingView

On the daily chart, against Bitcoin (BTC), Cardano (ADA) keeps trading in the middle of the channel against declining volume. Likewise, one should expect sharp moves soon, which means that the coin needs more time to get strength for either growth or decline. All in all, traders will see ADA in the area of 0.000016-0.00001650 until the end of the week.

ADA is trading at $0.3526 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