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.
By the middle of the week, bulls are trying to seize the lost initiative. As a result, some coins have come back to the red zone.
ADA/USD
The rate of Cardano (ADA) has increased by 3% since yesterday, while the price change over the last week has gone up by 6.10%.
On the hourly chart, Cardano (ADA) has accumulated enough energy to come back to the recently formed level at $1.40. Thus, the rising trading volume confirms the continued growth.
On the daily time frame, the volatility is decreasing, which means that at the moment traders are accumulating power for a further sharp price move.
After a test of the liquidity level at $1.37, Cardano (ADA) has fixed above the $1.35 mark. In this case, the more likely price action is the test of the resistance at $1.47, followed by a short-term decline.
On the weekly chart, Cardano (ADA) is slowly approaching the vital $1.50 level. The buying trading volume is low, which means that traders can plan to break the aforementioned level. If they can do it, the next area at which sellers may seize the initiative is $1.80-$2.
Cardano is trading at $1.36 at press time.
Vladislav Sopov