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Cardano (ADA) Price Prediction for March 8

Sat, 8/03/2025 - 15:14
Can traders expect bounce back of Cardano (ADA) in upcoming week?
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Cardano (ADA) Price Prediction for March 8
Cover image via U.Today

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Bulls do not seem ready yet to seize the initiative in the long-term, according to CoinStats.

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ADA chart by CoinStats

ADA/USD

Cardano (ADA) is one of the biggest losers today, going down by 6%.

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Image by TradingView

On the hourly chart, the price of ADA is in the middle of the local channel, between the support of $0.7931 and the resistance of $0.8392. 

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However, if bulls cannot restore the rate above the interim mark of $0.82, one can expect a decline to the $0.80 range.

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Image by TradingView

On the bigger time frame, the picture is more bearish than bullish. If the breakout of the $0.80 area happens, traders may witness a test of the support level of $0.7576 soon.

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Image by TradingView

From the midterm point of view, buyers have failed to keep the rise after the bullish closure. If the weekly candle closes around current prices or below, the correction is likely to continue to the $0.60 area.

ADA is trading at $0.8173 at press time.

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