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Cardano (ADA) Price Analysis for October 21

Fri, 10/21/2022 - 13:46
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Denys Serhiichuk
Can traders expect rise of Cardano (ADA) soon?
Cardano (ADA) Price Analysis for October 21
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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.

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Bulls could not use the slight bounce back to seize the initiative as all of the top 10 coins are again in the red zone.

Top 10 coins by CoinMarketCap


Cardano (ADA) remains one of the most bearish coins with a decline of 4.92% over the last 24 hours.

ADA/USD chart by TradingView

On the hourly chart, Cardano (ADA) has set the local support level at $0.3343, formed by its false breakout. However, the rate is coming back to it, which means that bulls are not yet strong enough for a short-term rise.

DOGE and SHIB Price Analysis for October 20

If the decline continues, there are chances to see ADA at around the $0.33 zone soon.

ADA/USD chart by TradingView

Cardano (ADA) has broken yesterday's low at $0.3364. If buyers cannot return above it by the end of the day, one can expect a further drop to the $0.33 mark.

ADA/USD chart by TradingView

On the weekly time frame, Cardano (ADA) reached the far retest level at $0.3321. At the moment, one should pay attention to that mark as, if the bar closes below it, the accumulated strength might lead to the test of the $0.30 zone next week.

ADA is trading at $0.3362 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