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Most of the coins are trying to get back to the bull run, according to CoinMarketCap.
ADA/USD
The rate of Cardano (ADA) has risen by 3.31% over the last day.
On the hourly chart, the price of ADA might have set a local support level of $0.61. There are low chances of seeing any sharp moves by the end of the day, as most of the daily ATR has been passed.
In this case, sideways trading in the area of $0.62-$0.64 is the more likely scenario.
On the bigger time frame, the rate has made a false breakout of yesterday's bar peak. If the candle closes far from that mark, one can expect a correction to the $0.55 zone soon.
Form the midterm point of view, one should focus on the bar's closure in terms of the resistance of $0.6474. If bulls cannot fix above that mark, bears may locally seize the initiative, which might lead to a correction to the $0.55-$0.60 area.
ADA is trading at $0.6307 at press time.
Yuri Molchan
Arman Shirinyan
Mushumir Butt
