Cardano Price Prediction for Today, September 9 – ADA Technical Analysis

Cardano Price Prediction: Uptrend Intensifies as Bullish Cross Looms

Cardano's (ADA) price movement indicates a bullish trend with a 3.37% gain, bolstering an impending bullish cross.

Cardano Prediction Statistics

• Current Price: $0.33
• Market Cap: $12.3 billion
• Circulating Supply: 35.9 billion
• Total Supply: 37.1 billion
• Coinmarketcap Ranking: #11

Historical Appreciation

Crypto investments often benefit from early entry, as exemplified by Cardano. Since its all-time low of $0.01735 in October 2017, ADA has surged by an impressive 1880.68%. Despite current prices falling short of its September 2021 peak of $3.10, returns remain substantial for early adopters.

ADA/USD Market

• Resistance Levels: $0.40, $0.42, $0.44
• Support Levels: $0.26, $0.24, $0.22

At the time of writing, ADA/USD is trading in the green, poised to cross above the 21-day moving average. According to the daily chart, candle formation favors an upward trend. However, a dip below the 9-day MA could indicate a reversal towards the south. The nearest support level lies at $0.30.

Cardano Price Prediction: Potential Surge

ADA's recent price fluctuations have witnessed initial strength and subsequent bearish rejection. However, critical support at $0.32 remains crucial. If this level holds, Cardano may consolidate; however, a break could lead to a significant decline ($0.28 support). Additionally, a long-term trendline supporting ADA's price will determine its ability to maintain current levels.

Bitcoin's performance and overall market sentiment heavily influence Cardano's future. Strengthening Bitcoin could lead to Cardano's consolidation and support maintenance. Conversely, bearish momentum may trigger a decline, particularly if market conditions deteriorate. Traders should closely monitor support levels and Bitcoin's influence.

ADA/BTC Pair

Against Bitcoin, ADA's buyers are propelling the price above the 9-day and 21-day moving averages. The nearest resistance lies near the channel's upper boundary (700 SAT).

Support Levels

• 580 SAT
• 525 SAT (potential further support with further price decline)

A 9-day MA crossing above the 21-day MA would signal an upward trend confirmation.

Alternatives to Cardano

• Pepe Unchained ($PEPU)

Pepe Unchained, a rising cryptocurrency, has attracted significant market attention with a pre-sale raising nearly $13 million. The project boasts strong social media engagement, a dedicated community, and favorable blockchain features, including low transaction fees and a 170% APY for staking.