Cardano (ADA) Price Analysis for March 9
Neither bulls nor bears are dominating today, according to the CoinMarketCap ranking.
ADA/USD
The price of Cardano (ADA) is almost unchanged since yesterday.
On the hourly chart, the price of Cardano (ADA) is trading near the local resistance at $0.32. If buyers can hold the rate near that mark until the end of the day, the rise may continue to the $0.3220 zone tomorrow.
On the daily time frame, the rate of Cardano (ADA) has made a false breakout of yesterday’s low at $0.3133. However, a one-day reversal is not enough for midterm growth.
In this case, sideways trading in the range of $0.32-$0.3250 is the more likely scenario until the end of the week.
On the bigger chart, traders should focus on the support level at $0.3187. If the candle closes above it, there is a possibility of seeing a bounce off to the zone around $0.33 by the end of the month.
ADA is trading at $0.3199 at press time.
