Cardano (ADA) Price Analysis for September 22 cryptomarketbag

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of YouTube. Every investment and all trading involves risk, so you should always do your own research before making a decision. We do not recommend investing money that you cannot afford to lose.

The bulls are back in the game after a sharp rise; However, some coins remain in the Red Zone.


Cardano (ADA) rate is up 0.64% in the last 24 hours.

ADA/USD chart by TradingView

On the local chart, Cardano (ADA) rate is trending down after a false breakout with the hourly resistance level at $0.4589. For the time being, the price is on the way to support at $0.4410. If buyers are unable to seize the initiative, a decline could soon test the $0.4350 mark.

ADA/USD chart by TradingView

On the daily chart, the situation is slightly different as the price is trapped in the middle of the channel. Traders can only consider a possible increase when ADA returns to the $0.46 area.

ADA/USD chart by TradingView

From a medium-term perspective, the bears are not going to give up as the price is slowly approaching the $0.3974 support level. In this case, a more likely scenario is another decline towards the $0.35 area by the end of the month.

ADA is trading at $0.4488 at press time.

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