The current analysis of Cardano (ADA) presents mixed signals. On shorter time frames, the cryptocurrency appears promising, while the daily chart shows pressure.
Short-term Prospects for Cardano
On the 4-hour and 12-hour charts, ADA has bounced off the $0.82-$0.85 range several times, establishing a short-term base. If this level holds, a move through $0.90 seems possible, which could push the price closer to $0.94.
Long-term Chart Analysis
The daily chart, however, tells a different story. The Bollinger Bands indicate that the price struggles with the $0.85 level, which has turned from support to resistance. The upper band near $0.98 has not been tested since early August, making the chart appear heavier.
Predictions and Possible Scenarios
The weekly chart highlights $0.96 as a focal point. ADA has been capped under this level all year, and a clear move above it would signify a significant change in the long-term trend. Currently, the price movement resembles a roller coaster: up, down, and possibly up again, depending on the chart's time frames.
The price situation of Cardano requires careful monitoring. If the $0.85 level fails to hold, a dip towards $0.82 or even $0.76 is possible. Success depends on timing and price momentum.
