Cardano Price Analysis: Will ADA Surge to hit $0.40

  • 24-hour trading volume for Cardano is hovering at $65,806,879.00.
  • ADA gained approximately 0.1% within the last 24 hours.
  • Cardano’s EMA(10) shows a downward trend.
  • Cardano shows bearish momentum over the weekend.

24 September 2023 : In this article we will walk you through Cardano price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for Cardano, Is ADA a good investment? Cardano support & resistance levels etc. But before diving deep into the ADA technical analysis, let us talk about the current market conditions.

Market Analysis

Over the last twenty-four hours, there was a down fall of -1.84 percent, bringing the entire cryptocurrency market to $1,055,414,659,611. The total trading volume stands at $14,684,306,003. Bitcoin shares 49.16 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price rising to $26,614.25 level after an upward movement of 0.12%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price increase of 0.19 percent reaching to $1,596.04 during the previous 24 hours.
While publishing this blog, BNB traded at $210.96, following a price change of 0.05% within the same time frame. XRP the native coin of XRP is up by 0.03 and currently trading at $0.51. Additionally, Cocos-BCX reached $0.60 after seeing a decline of -0.77% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.

Cardano Support and Resistance

Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of Cardano (ADA)

ADA Resistance Levels ADA Support Levels
Resistance Level 1 $0.40 Support Level 1 $0.35
Resistance Level 2 $0.42 Support Level 2 $0.33
Resistance Level 3 $0.44 Support Level 3 $0.30

Cardano Performance

ADA has recorded a upsurge, gaining 0.1% in last 24 hours. The current value of Cardano is hovering at $0.25 with the trading volume of $65,806,879.00 USD in the same timeframe. The overall marketcap for ADA is $8,639,337,918.00 USD while the coin price changes -1.75% over the week.

Cardano Price Analysis

ADA price analysis for 24 September 2023 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the Cardano.

Moving Averages Price Indicator
Simple Moving Average (10) 0.38 Sell
Exponential Moving Average (10) 0.38 Sell
Simple Moving Average (20) 0.41 Sell
Exponential Moving Average (20) 0.40 Sell
Simple Moving Average (50) 0.44 Sell
Exponential Moving Average (50) 0.44 Sell

The ADA/USD Moving Average Convergence and Divergence (MACD) indicator is indicating a short-term sell signal as the MACD line is moving below Signal Line Which means bears are dominating in the market. While ADA’s Williams %R indicator is at -72.644 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range. RSI implying oversold phase while trading at 13 and is trying to break out of the bearish zone while highlighting massive bearish strength. The Cardano has break all its supports levels and things are not looking good for the crypto market. Currently, bears are in control of the market and successfully take ADA price below the crucial support level of $0.35.


ADA price is moving in sideways direction. The battle between the bulls and the bears can result in moving the coin price in either direction. However, The investors are waiting for Cardano to make a one directional move to make a good entry in the market.