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The weekend has started with a market correction, according to CoinMarketCap.
ADA/USD
The rate of Cardano (ADA) has not changed since yesterday.
On the hourly chart, the price of ADA might have set a local resistance at $0.3590. If bulls can hold the gained initiative and the daily bar closes near that mark, the growth may continue to the $0.36 zone and above.
On the bigger time frame, one should focus on the candle closure in terms of yesterday's bar peak.
If it happens around it, traders may see an ongoing upward move to the $0.37 area by the end of the week.
From the midterm point of view, there are no reversal signals so far. However, if the weekly bar closes far from the formed support at $0.3466, there is a chance to witness a bounce back to the $0.38-$0.40 range.
ADA is trading at $0.3569 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team