Cardano (ADA) Price Prediction for October 18

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Despite bears' pressure, most of the coins keeps trading in the green zone, according to CoinMarketCap.

Top coins by CoinMarketCap

ADA/USD

The price of Cardano (ADA) has increased by almost 1% over the last 24 hours.

Image by TradingView

On the hourly chart, the rate of ADA is in the middle of the local channel, between the support of $0.3426 and the resistance of $0.35. 

As none of the sides is dominating, which is also confirmed by the falling volume, ongoing sideways trading around the current prices is the more likely scenario until tomorrow.

Image by TradingView

A more bearish picture can be seen on the daily time frame. At the moment, the price of ADA is near the support level of $0.3355. If it breaks out, the accumulated energy may lead to a drop to the $0.32-$0.33 range shortly.

Image by TradingView

From the midterm point of view, there are also no reversal signals yet. If buyers cannot seize the initiative soon, the decline is likely to continue to the vital zone of $0.30 by the end of the month.

ADA is trading at $0.3462 at press time.