ADA Attempts to Bounce at 200-Day Moving Average

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In Brief
  • ADA is trading inside long-term support at $0.09.

  • The price has been correcting since the end of July.

  • ADA/BTC is attempting to break out above the 915 satoshi resistance area.

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The Cardano (ADA) price has been falling since July 24. While a short/medium-term bounce is expected, it is unclear whether the correction has reached an end. ADA Resting at Support Even though ADA was one of the biggest risers throughout March and May, the price reached a top of $0.154 on July 24 and has been moving downwards since. Similar to the rest of the market, the decline
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Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona graduate school of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst.

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