Cardano

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The last day of the week is supposed to be bearish for the cryptocurrency market as the rates of <a href="https://u.today/ethereum-eth-price-analysis-for-august-24" rel="noopener noreferrer nofollow">most of the coins</a> are falling. 
<img alt="Top coins by CoinMarketCap" data-entity-type="file" data-entity-uuid="f72d2d90-7cda-4082-9079-09f8ff1db126" src="https://u.today/sites/default/files/inline-images/top10_615.png"> 
Top coins by<a href="https://coinmarketcap.com/" rel="noopener noreferrer nofollow"> CoinMarketCap</a> 
<h2 id="ada-usd">ADA/USD</h2> 
The price of Cardano (ADA) has fallen by 1.13% over the last 24 hours. 
<img alt="ADA/USD chart by TradingView " data-entity-type="file" data-entity-uuid="a3ee2225-5a88-434a-91bd-ec567b4644a0" src="https://u.today/sites/default/files/inline-images/ada1_73.png"> 
Image by <a href="https://www.tradingview.com/symbols/ADAUSD" rel="noopener noreferrer nofollow">TradingView</a> 
On the hourly chart, the price of Cardano (ADA) is in the middle of the local channel, accumulating energy for a further move. If the growth continues to the interim level of $0.2660, there is a chance to see a test of the $0.27 zone tomorrow. 
<img alt="ADA/USD chart by TradingView " data-entity-type="file" data-entity-uuid="2c7e7d8d-479b-4385-8c05-4513767fb747" src="https://u.today/sites/default/files/inline-images/ada2_73.png"> 
Image by <a href="https://www.tradingview.com/symbols/ADAUSD" rel="noopener noreferrer nofollow">TradingView</a> 
On the bigger time frame, the situation is less bullish as the rate keeps trading sideways. The volume is also low, which means that none of the sides is ready for a sharp move. 
Respectively, ongoing consolidation in the range of $0.26-$0.27 is the more likely scenario for the next few days. 
<img alt="ADA/USD chart by TradingView " data-entity-type="file" data-entity-uuid="3f0a34b3-349a-4e5a-95e1-15c44770ee72" src="https://u.today/sites/default/files/inline-images/ada3_62.png"> 
Image by <a href="https://www.tradingview.com/symbols/ADAUSD" rel="noopener noreferrer nofollow">TradingView</a> 
From the midterm point of view, traders should focus on the bar closure. If it happens above the previous candle low, there is a chance to see a bounce back, followed by a correction to the $0.28 area. 
ADA is trading at $0.2626 at press time.

Cardano (ADA) Price Analysis for August 25

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