Main navigation

Cardano (ADA) Price Analysis for October 11

Tue, 10/11/2022 - 08:31
article image
Denys Serhiichuk
Has Cardano (ADA) entered long-term bearish trend?
Cardano (ADA) Price Analysis for October 11
Cover image via

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.

Read U.TODAY on
Google News

The bearish trend continues on the cryptocurrency market as all of the top 10 coins are in the red zone.

Top 10 coins by CoinMarketCap


The rate of Cardano (ADA) has declined by 6.20% over the lsat 24 hours.

ADA/USD chart

On the hourly chart, Cardano (ADA) has formed the local support level at $0.3915 after its false breakout. If buyers can keep the rise, there are chances to see a return to the vital zone at $0.40 by the end of the day.

ADA/USD chart

On the bigger time frame, the price of Cardano (ADA) has broken the support level at $0.4019. Until the rate is below it, bears remain more powerful than bulls. At the moment, one should pay close attention to $0.40 as it is the tipping point.

ADA/uSD chart

A similar situation can be seen on the weekly chart as the current breakout of the $0.4019 level may be a prerequisite for a further decline. However, it is too early to think about that as one needs to wait until the candle closes.

ADA is trading at $0.3965 at press time.

article image
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