\nThe ADA price is likely to prolong a sideways trend before a decisive breakout. Best time to buy?\t\t\t\t<\/p>\n
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The Cardano price experienced a mixed sentiment throughout September, mostly oscillating within a narrow band on the daily chart. With increasing selling pressure, it repeatedly met resistance around the $0.26 mark and found consistent support near the $0.24 level. The recent downtrend in the broader crypto market has once again driven ADA to test its longstanding support at $0.24, signaling another potential bounce.<\/span><\/p>\n <\/p>\n Also Read: Cardano Project Catalyst Wraps Up Fund 10, Here are Key Takeaways<\/a><\/p>\n \u00a0On September 28th, the ADA price experienced resistance from a descending trendline<\/a>, a prominent feature governing the recent corrective phase. Over the past week, this downward pressure caused this altcoin to shed 5% of its value, nudging it toward the $0.24 support zone.\u00a0<\/span><\/p>\n This particular support level has held firm for nearly three years, making it a significant accumulation point for investors. The recent daily candle, with a modest 0.4% gain, indicates a neutral stance. This suggests that the strong bearish sentiment might be dissipating, as traders recognize renewed buying interest around the $0.24 mark.\u00a0<\/span><\/p>\n<\/blockquote>\n Should this buying pressure continue, the ADA price might attempt to breach the descending resistance trendline, potentially signaling the beginning of a bullish recovery<\/span><\/p>\n If Cardano coin manages to surpass this key resistance, the buyers may drive the prices upwards by roughly 6%, targeting the significant resistance at $0.25. A continuation of this upward move could further propel the coin towards the $0.28 mark.<\/span><\/p>\n <\/p>\n The last six months\u2019 price behavior has showcased weakness in Cardano coin in comparison with Bitcoin price<\/a>. While BTC has been trading new sideways for the past six months, the ADA price has witnessed a steady downtrend. This established downward trajectory indicates it is a risky asset to invest.<\/span><\/p>\n \n Share this article on:<\/p>\n –><\/p>\n Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading <\/p>\n<\/p><\/div>\n The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\nWill ADA Price Defend $0.24?<\/b><\/h2>\n
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ADA vs BTC Performance<\/strong><\/h2>\n
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Source: Coingape| Cardano Vs Bitcoin Price<\/span><\/p>\n\n
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