Cardano (ADA) price analysis for April 30

Denys Serhiichuk

What are the chances of seeing Cardano’s (ADA) turnaround anytime soon?

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the views of U.Today. Every investment and all trading involves risk, so you should always do your own research before making any decisions. We do not recommend investing money that you cannot afford to lose.

The weekend has kicked off with the ongoing fall of the cryptocurrency market as most of the coins remain in the red zone.

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Cardano (ADA) has followed the decline in most currencies and is down 1.35% since yesterday.

ADA/USD Chart by Trading View

On the local time frame, Cardano (ADA) is trading in the middle of the channel formed between the support at $0.17987 and the resistance at $0.8187. If the decline continues at the end of the day, the decline could lead to the test of $0.79.

ADA/USD Chart by Trading View

On the larger chart, the price bounces back to the low of the broad channel against the increased trading volume. In the event of a further decline, one can expect a test of $0.7460 soon.

ADA/USD Chart by Trading View

On the larger time frame, the price is fixed below $0.90 meaning there is a high probability of seeing continued decline next week. In this regard, bears can reduce the ADA rate to $0.6856.

ADA is trading at $0.8087 at the time of writing.

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