Advertisement
AD

Main navigation

Cardano (ADA) Price Analysis for March 3

Advertisement
Fri, 3/03/2023 - 16:20
Cardano (ADA) Price Analysis for March 3
Cover image via www.tradingview.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

Bears are keeping the pressure on as all of the top 10 coins are in the red zone.

Advertisement

Top coins by CoinMarketCap

ADA/USD

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.

Related

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.

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD