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- Cardano price prediction expects a rise to $0.114.
- ADA finds strong resistance at $0.96.
- Strong support is available at the $.90 level.
The price held above the $0.0925 mark as the day progressed past the afternoon on the 30th of October. The Cardano price prediction by Tree Trader shows that the price will soon retest the $0.1148 resistance.
1-Day Cardano price analysis
The cryptocurrency was priced at $0.0927 US Dollars at the time of writing. For the day’s lowest, the price was observed at $0.0900.
What’s next for ADAUSD?
Vince Prince confirmed that the cryptocurrency has depicted a resistance cluster near above the $0.10 mark, and the price has fallen below an ascending channel. The ADAUSD trading pair formed a wave pattern in the ascending channel, and it descending towards the lower boundary on the 23rd of October.
The price moves below the Exponential Moving Average in black, and the cryptocurrency was expected to test the resistance cluster before moving downwards on the chart. Over the past two days, the price has trended downwards and moved towards the back-up zone that has been marked in blue on the chart above.
Per the analyst, the back-up zone should provide enough support to Cardano so that it can return upwards and test the big falling trendline marked in black. If the price tests this resistance and breaks above this, a pullback will follow which will lead the price towards the newly-broken trendline. Eventually, another bounce off will allow the price to continue its uptrend and rise above the $0.105 mark, which is where the target price for this trade lies.
Cardano breaks below main trendline
On the chart below, the Trading View analyst Burning Llama has highlighted a main ascending trendline. The analyst has stated that the price is expected to break the trendline towards the downside.
This trendline was previously tested on the 24th of September, after which the cryptocurrency bounced off of it and moved upwards. This time, the price has moved below the trendline and it may finally confirm a breakout towards the downside and turn bearish.
Cardano price prediction: Retest of $0.114 ahead?
The chart below shows that ADA has confirmed the support zone between the $0.090 and $0.095 levels once again , and the price will now return upwards.
The horizontal resistance for this range lies at $0.1148, and the price is expected to retest this resistance after bouncing off the support structure highlighted in the chart above. Previously, the cryptocurrency tested the same resistance between the 12th of October and the 23rd of October. During this time, the price moved close to the resistance.
What to expect from Cardano?
The analyst Cryptohmc believed that the price will form a long-term entry near the support below the $0.10 mark. However, the cryptocurrency has broken below the support line.
Previously, the price moved along the rising trendline marked in the chart above, after which it broke below the $0.108 mark on the 26th of October. The price has been trendline alongside a thin trendline that is sketched in blue on the chart above.
Disclaimer: The information provided is not a 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.
