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Cardano (ADA) Price Analysis for January 9

Mon, 01/09/2023 - 20:00
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Denys Serhiichuk
Can Cardano (ADA) keep growing faster than other coins?
Cardano (ADA) Price Analysis for January 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 cryptocurrency market might have entered midterm growth, according to the CoinMarketCap ranking.

Top coins by CoinMarketCap


Cardano (ADA) is the biggest gainer today among the top 10 coins, rocketing by 11.61%.

ADA/USD chart by TradingView

On the hourly time frame, the price of Cardano (ADA) started Monday with the bounce back of the support level at $0.2953. Then, the altcoin tried to fix above the resistance at $0.3265, but it failed to do that. In this case, the more likely scenario is a correction to the zone of $0.31.

ADA/USD chart by TradingView

On the bigger chart, the price has also made a false breakout of the $0.3265 mark against the increased volume. However, one should pay attention to the daily closure. If buyers can seize the initiative and return the rate to the resistance, there are high chances to see a further upward move tomorrow.

ADA/BTC chart by Trading View

Cardano (ADA) is also feeling bullish on the daily chart against Bitcoin (BTC). The price has made a false breakout of the 0.00001958 mark; however, it remains above the support at 0.00001840. If the bar closes above it, the rise may lead to the test of 0.000019 until the end of the week.

Cardano is trading at $0.3203 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