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Cardano (ADA) Price Analysis for February 9

Thu, 02/09/2023 - 18:00
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Denys Serhiichuk
When can Cardano (ADA) get back to $0.40 zone?
Cardano (ADA) Price Analysis for February 9
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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 majority of the coins need more time to get power to keep the rise, according to the CoinMarketCap data.

Top coins by CoinMarketCap


Cardano (ADA) is one of the biggest losers today, falling by 2.40%.

ADA/USD chart by TradingView

On the hourly time frame, the price of Cardano (ADA) has reached the local resistance at $0.3891. However, the rate has not fixed above it yet. If the buyers can keep their pressure and the candle closes with no wicks, the accumulated energy might be enough for a breakout, followed by an impulse to the $0.3950 zone.

ADA/USD chart by TradingView

On the daily chart, the price is locating in the middle of the channel, which means one should not expect any sharp moves soon. Likewise, the more likely scenario is sideways trading in the area of $0.38-$0.40 until mid-February.

ADA/USD chart by TradingView

The weekly time frame tells us almost the same things: Cardano (ADA) is not ready yet for any midterm moves, and the falling volume confirms that.

XRP Price Analysis for February 8

If buyers want to restore the lost initiative, they need to get the rate back to the important zone of $0.40.

ADA is trading at $0.3871 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