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Cardano (ADA) Price Analysis for September 6

Wed, 09/06/2023 - 16:40
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Denys Serhiichuk
Is rate of Cardano (ADA) ready to rise soon?
Cardano (ADA) Price Analysis for September 6
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The market remains under bears' pressure, according to the CoinMarketCap ranking.

Top coins by CoinMarketCap


The rate of Cardano (ADA) has declined by 0.31% over the last 24 hours.

Image by TradingView

On the hourly chart, the price of Cardano (ADA) is on its way to the local support level of $0.2551. If buyers cannot seize the initiative now, closure near the mentioned mark may lead to a more profound drop to the $0.2540 zone tomorrow.

Image by TradingView

A less clear picture is can be seen on the bigger time frame as the price keeps trading sideways, gaining energy for a further sharp move. In this case, ongoing consolidation in the area of $0.2540-$0.26 is the more likely scenario until the end of the week.

Image by TradingView

From the midterm point of view, neither buyers nor sellers are dominating as the rate is far from the key levels.

Ethereum (ETH) Price Analysis for September 5

Respectively, sideways trading between $0.25 and $0.26 is the more likely scenario until mid-September.

ADA is trading at $0.2551 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