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Cardano (ADA) Price Analysis for February 19

Price Analysis
Sat, 02/19/2022 - 14:39
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Denys Serhiichuk
How powerful is Cardano (ADA) against other coins?
Cardano (ADA) Price Analysis for February 19
Cover image via www.tradingview.com

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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Bears seem like they are not going to give up as the coins keep trading in the red zone.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

ADA/USD

Cardano (ADA) could not withstand the overall bearish trend, losing 3.50% of its price since yesterday.

ADA/USD chart by TradingView
ADA/USD chart by TradingView

On the hourly chart, Cardano (ADA) is fighting for the vital level of $1. The selling volume is going down, which means that bears are lacking energy to keep the pressure up. In this case, there is a chance to see a local bounceback shortly to the area of $1.01.

ADA/USD chart by TradingView
ADA/USD chart by TradingView

On the bigger time frame, Cardano (ADA) is going down after a false brekaout of the major liquidity zone at $1.069 that serves as the resistance. The trading volume is going up, which means that the drop may not have ended yet.

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BTC, ETH and DOGE Price Analysis for February 17

In this regard, the rate of ADA has a good chance to test the resistance at $0.917 once again.

ADA/USD chart by TradingView
ADA/USD chart by TradingView

On the weekly chart, bulls are losing the area of $1, which is crucial in terms of long-term growth.

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BTC, BNB, ADA, AVAX, SOL and LUNA Price Analysis for February 16

If the bears keep the pressure and the candle fixes near $0.917, one can expect one more sharp drop to $0.810 shortly.

ADA is trading at $0.987 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 denys.serhiichuk@u.today.