Cardano (ADA) Price Analysis for February 8

Original U.Today article

Does the price of Cardano (ADA) have enough energy for a move to the $0.30 zone?

Cover image via U.Today

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on

Google News

Most of the coins are in the green zone on the last day of the week, according to CoinStats.

ADA chart by CoinStats

ADA/USD

The price of Cardano (ADA) has gone up by 2% over the last 24 hours.

Image by TradingView

On the hourly chart, the rate of ADA is rising after a false breakout of the local support at $0.2694. If buyers’ pressure continues, one can expect a price blast to the $0.28 zone.

Image by TradingView

On the longer time frame, the price of ADA is in the middle of a wide channel, between the support at $0.2436 and the resistance at $0.3034. 

You Might Also Like

As none of the sides is dominating, ongoing sideways trading is the most likely scenario over the next few days.

Image by TradingView

From the midterm point of view, the rate of ADA has once again bounced off the support at $0.22. If the weekly bar closes far from that mark, bulls may seize the initiative, which may lead to growth to the $0.30-$0.35 area.

ADA is trading at $0.2736 at press time.

Prev. article
Next article

Subscribe to daily newsletter

Successful!

Thank you. We’ll contact you shortly.

Ok

‘;
jQuery(‘.card__subscribe-em .input__status’).text(‘Subscribed’);
e.target.querySelector(‘.success’).style.display = ‘block’;
}
});
});
jQuery(‘.modal__form’).submit(function (e) {

const form = e.target;
const inputs = form.elements;
let data=””;
for (const input of inputs) {
data = data + input.name + ‘=’ + input.value + ‘&’;
}

jQuery.ajax({
url: ‘/getresponse.php’,
type: ‘post’,
data: data,
success: function () {
// e.target.querySelector(‘.subscribe-result’).innerHTML = ‘

Subscribed

‘;
// jQuery(‘.card__subscribe-em .input__status’).text(‘Subscribed’);
// e.target.querySelector(‘.success’).style.display = ‘block’;
}
});
});

var nextPages = [
‘https://u.today/bitcoin-prints-bullish-7132-liquidation-imbalance-does-this-mean-end-of-bear-market’,
‘https://u.today/shib-price-analysis-for-february-8’,
‘https://u.today/shytoshi-kusama-hints-at-imminent-update-as-shib-awaits-whats-next’,

];
jQuery(‘.views-row’).infiniteScroll({
path: function () {
return nextPages[this.loadCount];
},
append: ‘.article’,
prefill: true,
scrollThreshold: 1200,
status: ‘.scroller-status’,
hideNav: ‘.pagination’,
});

});

function addLink() {
let body = document.getElementsByTagName(‘body’)[0],
selection = window.getSelection(),
copyright = “

Read more on U.Today ” + document.location.href + “

“,
copyrightText = selection + copyright,
newdiv = document.createElement(‘div’);

newdiv.style.position = ‘absolute’;
body.appendChild(newdiv);
newdiv.innerHTML = copyrightText;
selection.selectAllChildren(newdiv);

window.onclick = function () {
body.removeChild(newdiv);
};
}

Source: https://u.today/cardano-ada-price-analysis-for-february-8