Cardano (ADA) Price Analysis for March 19


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Denys Serhiichuk

Buyers could not hold the gained initiative until the end of the week, according to CoinMarketCap’s ranking.

Top coins by CoinMarketCap


Despite the fall of Cardano (ADA) by 2.52% since yesterday, the coin’s price has grown by 11.40% over the last 7 days.

ADA/USD chart by TradingView

On the local chart, the price is located above the resistance at $0.3441. At the moment, one should pay attention to the daily closure. If it happens above the aforementioned mark, the growth may continue to the $0.35 zone shortly.

ADA/USD chart by TradingView

On the bigger chart, the situation is unclear as the price keeps trading in the wide range between the support at $0.3012 and the resistance at $0.3680. As neither side has accumulated enough energy for a further move, ongoing sideways trading in the area of $0.34-$0.35 is the more likely scenario.

ADA/USD chart by TradingView

On the weekly time frame, the price has once again bounced off the support level at $0.3212. While the price is above that mark, there is still hope for a local correction.

In this regard, the growth may lead to a test of the interim resistance area of $0.40.

ADA is trading at $0.3443 at press time.

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