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The correction continues on the cryptocurrency market on the weekend, according to CoinMarketCap.
ADA/USD
The price of Cardano (ADA) has gone down by 0.09% over the last 24 hours.
On the hourly chart, the rate of ADA has broken the local resistance of $0.3243.
Denys SerhiichukIf the daily bar closes above that mark and with no long wick, the upward move is likely to continue tomorrow to the $0.33 range.
On the bigger time frame, the price of ADA is rising after a false breakout of the support level of $0.3050. If the candle closes near $0.33, the energy might be enough for an ongoing bounce back to the $0.34-$0.35 zone.
From the midterm point of view, one should pay attention to the weekly bar closure. If it happens around the current prices, there is a chance of a local rise to the $0.35 area.
ADA is trading at $0.3243 at press time.
Alex Dovbnya
Valeria Blokhina
Vladislav Sopov
Dan Burgin
U.Today Editorial Team