Cardano (ADA) Price Analysis for October 3

Bears are back in the game as the rates of most of the top coins are falling.

ADA/USD

The price of Cardano (ADA) has dropped by 1.30% since yesterday.

Despite today’s fall, the rate of Cardano (ADA) is looking bullish on the local chart as the price is on its way to testing the resistance of $0.2640. If the situation does not change by the end of the day, the accumulated energy might be enough for a blast to the $0.2660 area tomorrow.

On the daily time frame, the rate of ADA is in the middle of the wide channel, which means that neither buyers nor sellers are dominating at the moment. If the price fixes above the $0.26 mark, there is a chance to see a consolidation in the area of $0.2650-$0.27 for the next few days.

The price of ADA is looking bullish on the daily time frame against BTC as the rate is approaching the resistance of 0.00000968.

If buyers can hold the gained initiative, traders are likely to see a blast to the 0.000010 zone until mid-October.

ADA is trading at $0.2628 at press time.

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