Brief Technical Analysis of Cardano (ADA) – Over the Last 24 Hours

Date: October 5

Current Price: Approximately $0.8768

📈 Highest Price: $0.8802

📉 Lowest Price: $0.8345

Cardano ($ADA ) is experiencing lateral fluctuations today between support and resistance levels, without a clear breakout in either direction, indicating a state of anticipation among traders before making the next move.

Quick Technical Overview:

Nearby Resistance: Between $0.88 – $0.90

Strong Support: At $0.83 – $0.84

Overall Trend: Lateral (Neither bullish nor bearish at the moment)

Technical Indicators: Show a balance between buying and selling forces, suggesting a temporary continuation of the price range.

📊 Possible Scenarios:

🔹 In the event of a bullish breakout:

If the price exceeds the $0.88 level with strong trading volume, we might see an attempt towards $0.90 or higher.

🔹 In the event of a bearish breakdown:

Breaking the support at $0.83 may push ADA towards $0.80 or lower in the short term.

Summary:

The market appears to be in a consolidation phase, and investors are watching the $0.83 – $0.90 area as the key for the next move.

Technical neutrality prevails until a strong signal emerges from either direction.

⚠️ Friendly Reminder:

Always conduct your own research (DYOR) before making any investment decisions.#knowmorewithGiovanni #TEAMMATRIX @FÈS - TEAM MATRIX @EarnPii - TEAM MATRIX @EarnPii - TEAM MATRIX @KeanuLeafes - TEAM MATRIX