Cardano (ADA) Price Prediction for October 5

The prices of most coins are rising on the last day of the week, according to CoinMarketCap.

ADA/USD

The rate of Cardano (ADA) has gone up by 1.18% since yesterday. Over the last week, the price has risen by 10.40%.

On the hourly chart, the price of ADA is in the middle of the local channel between the support of $0.8351 and the resistance of $0.8826. As most of the daily ATR has been passed, there are low chances to see sharp moves by tomorrow.

On the bigger time frame, the rate of ADA has once again failed to fix above the $0.8877 level.

If the candle closes around the current prices or below, one can expect an ongoing correction to the $0.83 zone.

From the midterm point of view, the price of ADA is within the previous bar, which means neither side is dominating. The volume is low, confirming the absence of bulls’ and bears’ energy. All in all, sideways trading in the range of $0.83-$0.90 is the more likely scenario.

ADA is trading at $0.8541 at press time.