Cardano (ADA) Price Analysis for January 20

Cardano (ADA) Price Analysis for January 20

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

Most of the coins are about to keep rising, according to their CoinMarketCap ranking.

Top 10 coins by CoinMarketCap

ADA/USD

The rate of Cardano (ADA) has risen by 1.42% over the last 24 hours.

ADA/USD chart by TradingView

On the hourly chart, the price of Cardano (ADA) is trading near the resistance level at $0.3412 after the false breakout of the support at $0.3338.

If bulls can hold the gained initiative, the rise may continue to the $0.35 zone tomorrow.

ADA/USD chart by TradingView

On the bigger time frame, Cardano (ADA) is not looking so bullish as the rate is far from the resistance level at $0.3697. However, if today’s bar closes above yesterday’s peak at $0.3430, the growth may continue to $0.36 soon.

ADA/BTC chart by Trading View

On the daily chart against Bitcoin (BTC), the price is trying to keep yesterday’s growth going. However, bulls might not have accumulated enough power for a trend change. In this case, the more likely scenario is sideways trading in the range of 0.000016-0.000001630.

ADA is trading at $0.3412 at press time.

Published at Fri, 20 Jan 2023 20:00:00 +0100

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