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Cardano (ADA) Price Analysis for March 3

Fri, 03/03/2023 - 16:20
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Denys Serhiichuk
Can one expect fast bounce back of Cardano (ADA)?
Cardano (ADA) Price Analysis for March 3
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Bears are keeping the pressure on as all of the top 10 coins are in the red zone.

Top coins by CoinMarketCap


The rate of Cardano (ADA) has dropped by 3.11% over the last 24 hours.

ADA/USD chart by TradingView

Despite a sharp drop today, the rate of Cardano (ADA) might have found the local support level at $0.3355. Until the price is above it, buyers have a chance to bounce back. Furthermore, closure near the formed resistance at $0.3395 can create a blast to the $0.3440 zone.

ADA/USD chart by TradingView

On the daily time frame, the rate of Cardano (ADA) has made a false breakout of the support at $0.3237 against the increased volume. However, it is too early to think about a reversal.

DOGE Price Analysis for March 2

In this case, the more likely scenario is sideways trading in the range of $0.33-$0.35 until mid-March.

ADA/USD chart by TradingView

A similar situation can be seen on the weekly chart. At the moment, one should pay attention to the bar's closure. If it happens near the $0.3237 support level, the drop may continue to the crucial zone of $0.30 and below.

ADA is trading at $0.3383 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