Cardano (ADA) Price Analysis for October 10

Bears remain more powerful than bulls, according to CoinMarketCap.

ADA/USD

The rate of Cardano (ADA) could not withstand the bears’ pressure, falling by 0.80%.

On the hourly chart, the price of Cardano (ADA) might have found a local support level of $0.2488.

If the daily bar closes far from this mark, there is a chance to see a bounce back to the middle of the channel – $0.2520.

A less positive picture can be seen on the daily time frame, as the price of ADA is coming back to the support level. If a breakout happens, the accumulated energy might be enough for a further drop to the $0.24-$0.2450 area soon.

On the daily chart against BTC, the rate of ADA has broken the support level of 0.00000913. In case the candle closes below it, bears might seize the midterm initiative, which could lead to a more profound drop to the 0.000009 zone and below it.

ADA is trading at $0.25 at press time.

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