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Cardano (ADA) Price Analysis for October 1

Sat, 10/01/2022 - 22:59
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Denys Serhiichuk
Does Cardano (ADA) have power to bounce back?
Cardano (ADA) Price Analysis for October 1
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The market keeps rising as most of the coins are still trading in the green zone.

Top 10 coins by CoinMarketCap


The rate of Cardano (ADA) has almost not changed since yesterday as the price has only risen by 0.07%.

ADA/USD chart by TradingView

On the hourly chart, the rate of Cardano (ADA) has declined after the false breakout of the local resistance level at $0.4349. If sellers' pressure continues, one can expect a drop below the $0.43 mark.

ADA/USD chart by TradingView

On the daily time frame, the situation is also bearish as the rate has returned to the recently tested support level at $0.4258. If the candle closes near it, there is a possibility to see a further downward move to the $0.40 zone.

ADA/USD chart by TradingView

The weekly chart confirms ongoing bears' pressure after the false breakout of the $0.50 zone. Closure near the $0.3974 mark might generate a sharp price decline to the next zone around $0.30-$0.35.

ADA is trading at $0.4316 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