Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
The market has switched to green as the rates of most of the coins are rising.
Top coins by CoinMarketCap
ADA/USD
Cardano (ADA) has followed the sharp rise of Bitcoin (BTC), going up by 8.35% over the last 24 hours.
Image by TradingView
On the hourly chart, the price of Cardano (ADA) has started a sharp rise after the breakout of the important zone of $0.40. If buyers can hold the gained initiative until the end of the day, the upward move may continue to $0.43.
Image by TradingView
On the daily time frame, the rate of Cardano (ADA) has continued to grow after yesterday's bullish closure. However, the price has not even returned to the middle of the channel, which means that it is too early to think about a reversal.
In order for this to happen, the rate needs to get back to the $0.44 mark and fix above it.
Image by TradingView
The situation is almost unchanged on the daily chart against Bitcoin (BTC). The volume keeps falling, which means that ongoing sideways trading remains the more likely scenario until the end of the month.
ADA is trading at $0.4121 at press time.
Vladislav Sopov