Cardano (ADA) Price Analysis for February 23 - BitcoinEthereumNews.com
Even though the day started with a slight fall, most of the coins managed to come back to the green zone.ADA/USDCardano (ADA) has followed the rise of Bitcoin (BTC), going up by almost 1%.On the hourly chart,...
Even though the day started with a slight fall, most of the coins managed to come back to the green zone.
ADA/USD
Cardano (ADA) has followed the rise of Bitcoin (BTC), going up by almost 1%.
On the hourly chart, the price of Cardano (ADA) has found the local support level at $0.3830. Currently, one should pay attention to the $0.39 zone as closure above it could be a prerequisite for further growth to the resistance at $0.3949.
On the longer time frame, the situation is not as positive, as the rate keeps trading near the support at $0.3819. If buyers want to keep midterm growth going, they need to restore the price of ADA above the $0.40 zone.
Only in that case, there is a chance of seeing a test of the resistance at $0.42.
Analyzing the daily chart of Cardano (ADA) against Bitcoin (BTC), bears remain more powerful than bulls, as the rate keeps falling after a failed attempt to fix above the 0.000017 zone. In this regard, the more likely scenario is a continued drop to the support at 0.00001548.
ADA is trading at $0.3904 at press time.
Source: https://u.today/cardano-ada-price-analysis-for-february-23
Post navigation
Delegate Your Voting Power to FEED DRep in Cardano Governance.
DRep ID: drep12ukt4ctzmtf6l5rj76cddgf3dvuy0lfz7uky08jfvgr9ugaapz4 | We are driven to register as a DRep by our deep dedication to the Cardano ecosystem and our aspiration to take an active role in its development, ensuring that its progress stays true to the principles of decentralization, security, and community empowerment.DELEGATE VOTING POWER!
