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Bulls keep dominating at the end of the week, according to CoinStats.
ADA/USD
The rate of Cardano (ADA) has risen by 4.23% over the last 24 hours.
On the hourly chart, the price of ADA has made a false breakout of the local resistance of $0.8796. At the moment, one should pay attention to the daily bar closure in terms of that level.
If it happens far from it, bears may come back to the game, which may lead to a drop to $0.8188.
On the longer time frame, the picture is similar. If the daily bar closes far from the $0.8643 resistance level, there is a chance to see a decline to the $0.80 range.
From the midterm point of view, there are no reversal signals yet. The volume remains high, confirming bulls' strength. In this regard, ongoing growth to the $0.90 mark and above is the more likely scenario.
ADA is trading at $0.8494 at press time.
Vladislav Sopov
U.Today Editorial Team