Cardano (ADA) Price Prediction for September 2
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Today, Cardano’s price is around $0.83, down 1.2% from the last session. The token is still under pressure in a downward channel that has been guiding price action since mid-August.
Flows data show that money is still leaving, and technicals say that ADA needs to break through the key resistance level at $0.88 to show that it can recover. Without that, the overall structure will continue to lean bearish as we move into September.
Cardano Price Stuck Inside Descending Channel
On the 4-hour chart, ADA trades inside a clear downward channel, capped by resistance near $0.88 and supported around $0.81. The 20- and 50-period EMAs, at $0.83 and $0.84 respectively, are converging just above spot levels, reinforcing the weight of near-term resistance.
The RSI hovers around 47, suggesting momentum is neutral but leaning weak. Unless buyers force a breakout above the channel top, ADA risks further drift toward $0.80 and potentially $0.76, the next support level aligned with the 0.618 Fibonacci retracement.
Related: XRP Price Prediction: XRP Struggles Against Descending Resistance
Outflows Add Pressure on Sentiment
The post Cardano (ADA) Price Prediction for September 2 appeared first on Coin Edition.
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