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10/25/2021

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Cardano Price Analysis: ADA retests $2.10 again, consolidation to slowly continue?

The post Cardano Price Analysis: ADA retests $2.10 again, consolidation to slowly continue? appeared on BitcoinEthereumNews.com. TL;DR Breakdown Cardano price analysis is bullish today. ADA/USD moved to est the $2.10 support again. Cardano is likely heading higher next. Cardano...

Cardano Price Analysis: ADA retests $2.10 again, consolidation to slowly continue?

TL;DR Breakdown

  • Cardano price analysis is bullish today.
  • ADA/USD moved to est the $2.10 support again.
  • Cardano is likely heading higher next.

Cardano price analysis is bullish today as support was found at $2.10 after some more selling pressure yesterday. Therefore, we expect ADA/USD to bounce from the support and look to test the upside.

 ADA retests $2.10 again, consolidation to slowly continue? 1 Cryptocurrency heat map. Source: Coin360

The overall market traded mostly in the green over the last 24 hours, with Bitcoin up by 2.09 percent, while Ethereum up by 0.52 percent. Meanwhile, Solana (SOL) is the top performer, with a gain of 7 percent.

Cardano price movement in the last 24 hours: Cardano retests $2.10 major support again

ADA/USD traded in a range of $2.10 – $2.15, indicating low volatility over the last 24 hours. Trading volume has increased by 10.32 percent and totals $2.25 billion, while the total market cap trades around $70.25 billion, ranking the coin in 4th place overall.

ADA/USD 4-hour chart: ADA to move higher again?

On the 4-hour chart, we can see Cardano price finding support at $2.10, likely leading to more upside later today.

 ADA retests $2.10 again, consolidation to continue? ADA/USD 4-hour chart. Source: TradingView

Cardano price action has seen trading sideways over the past weeks, with the $2.10 mark serving as support several times. The ADA/USD consolidation formed over the past weeks is a result of a strong push higher at the end of September.

Cardano peaked at $2.46, while the following retracement set support at $2.03. Since then, further lower highs and higher lows were set, with the $2.30 price area serving as resistance, while the $2.10 mark as support.

Late last week, Cardano price did set a high thigh at $2.30. However, ADA/USD did return back to the major support at $2.10 over the weekend, indicating that we can expect further consolidation.

Cardano Price Analysis: Conclusion 

Cardano price analysis is bullish today as the $2.10 support prevented further downside again. Therefore, we expect ADA/USD to push higher and move back to the $2.30 resistance. 

While waiting for Cardano to move further, read our guides on LTC wallets, Gero wallets, and  DeFi wallets.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Source: https://api.follow.it/track-rss-story-click/v3/tHfgumto13BC2btsQJofqofjc6hd5eWF


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