The price of Cardano (ADA) has dropped below the moving average lines on October 1, fluctuating between $0.33 and $0.36. The moving average lines are acting as resistance, causing the price to stay within a narrow range above $0.30. There is significant selling pressure at the moving average lines, but the altcoin is expected to resume its uptrend once it breaks above them. On the daily chart, the price bars are falling below the moving average lines, indicating a bearish trend. On the 4-hour chart, Cardano is trading sideways with a narrow range of $0.33 to $0.36. The author notes that this analysis and forecast are personal opinions and not a recommendation to buy or sell cryptocurrency.



Other News from Today