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The majority of the cryptocurrencies keep setting new local peaks, according to CoinStats.
ADA/USD
The price of Cardano (ADA) has risen by 6.55% over the last 24 hours.
On the hourly chart, the rate of ADA is near the local resistance of $0.8254. As most of the ATR has passed, there are low chances of seeing sharp moves by tomorrow.
However, if the daily bar closes near the mentioned mark, one may expect a test of the $0.85 zone shortly.
On the longer time frame, the price is on its way to the resistance of $0.8466. However, buyers might need time to accumulate energy for a breakout. Thus, the volume has dropped, which means sideways trading in the range of $0.78-$0.82 is the most likely scenario until the end of the week.
A similar picture can be seen on the weekly chart. Traders should pay attention to the $0.8466 resistance. If the bar closes above it with no long wick, an ongoing upward move to the $0.90 mark is the most likely scenario.
ADA is trading at $0.8038 at press time.
Vladislav Sopov
U.Today Editorial Team