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 weekend has started with an ongoing correction on the market as the majority of the coins are in the red zone.
ADA/USD
The rate of Cardano (ADA) has declined by 0.39% over the last 24 hours.
On the hourly chart, the rate of Cardano (ADA) is accumulating power in the narrow channel between the support at $0.3585 and the resistance at $0.3620. Currently, neither side has seized the initiative. However, if the price can reach the upper level, the breakout may lead to a test of the $0.3650 mark soon.
On the daily time frame, Cardano (ADA) has fixed above the support level at $0.3543 formed by its false breakout. If buyers can hold the gained initiative and keep the rate above the $0.36 zone, the growth may continue to the nearest resistance around $0.37. Such a scenario is relevant until the end of next week.
On the weekly chart, the situation is less positive as the price is located below the low at $0.3652. If nothing changes by the time the candle closes, the correction may lead to a test of the $0.34 mark.
ADA is trading at $0.3605 at press time.
Arman Shirinyan
Alex Dovbnya
