Cardano (ADA) Price Analysis for September 28

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Cardano (ADA) Price Analysis for September 28

Buyers are again more powerful than bears, according to the CoinMarketCap ranking.

Cardano (ADA) Price Analysis for September 28

ADA/USD

The rate of Cardano (ADA) has increased by almost 2% over the last 24 hours.

Cardano (ADA) Price Analysis for September 28

On the hourly chart, the price of Cardano (ADA) has broken the local support of $0.2476. There are low chances of seeing a further sharp rise by the end of the day; however, if the bar closes above the mentioned mark, growth might continue to the $0.25 zone tomorrow.

Cardano (ADA) Price Analysis for September 28

Buyers are also more powerful than sellers on the bigger time frame, as the rate is about to fix above the recently formed resistance of $0.2479.

If that happens, the accumulated energy might be enough for an upward move to the $0.2520-$0.2540 area by the end of the week.

Cardano (ADA) Price Analysis for September 28

From the midterm point of view, bulls are still far from a midterm rise, which means that the rate of Cardano (ADA) needs more time to accumulate power. In this case, sideways trading in the range of $0.2450-$0.2550 is the more likely scenario until mid-October.

ADA is trading at $0.2488 at press time.

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