The post Cardano (ADA) Price Analysis for October 20 appeared on BitcoinEthereumNews.com.

Cover image via www.tradingview.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. The prices of most of the coins have come back to the green zone, according to CoinStats. ADA chart by CoinStats ADA/USD The rate of Cardano (ADA) has risen by almost 3% since yesterday. Image by TradingView On the hourly chart, the price of ADA has set a local support level of $0.2481. Until the rate is above that mark, there is a chance to see a further rise to the resistance by the end of the day. Image by TradingView A less positive picture can be seen on the daily chart. The rate is far from the main levels, which means that none of the sides has accumulated enough energy for a further move.  However, if the price of ADA gets back to the $0.26 zone, the growth is likely to continue to the resistance of $0.2696. Image by TradingView From the midterm point of view, sideways trading remains the more likely scenario for the next few weeks. Such a statement is confirmed by the falling volume. But if bears seize the initiative and return the rate to the support of $0.2380, a drop may lead to the test of $0.22. ADA is trading at $0.2501 at press time. About the author Denys Serhiichuk With more than 5 years of trading, Denys has a deep knowledge of both technical and…

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Filed under: News - @ October 20, 2023 6:30 pm