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Cardano (ADA) Price Analysis for March 26

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Sun, 26/03/2023 - 13:55
Cardano (ADA) Price Analysis for March 26
Cover image via www.tradingview.com

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ADA/USD

The price of Cardano (ADA) has risen by 0.74% over the last 24 hours.

ADA/USD chart by TradingView

On the hourly chart, the rate of Cardano (ADA) is near the local resistance at $0.3594. If buyers can hold the gained initiative until the end of the day, the growth may lead to a test of the $0.3640 zone shortly.

ADA/USD chart by TradingView

On the bigger time frame, the situation is less obvious. The price has once again made a false breakout of the support at $0.3489. If the bar closes with no long wicks, the upward move may continue to the middle of the channel, around the $0.37 zone.

ADA/USD chart by TradingView

On the weekly chart, ongoing sideways trading is the more likely scenario for Cardano (ADA) as the price is located far from the key levels. In this case, traders might see ADA in the area of $0.35-$0.37 until mid-April.

ADA is trading at $0.3588 at press time.

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