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 market is back in the bullish zone, according to CoinStats.
ADA/USD
The rate of Cardano (ADA) has risen by 6.15% over the last day.
On the hourly chart, the price of ADA has made a false breakout of the $0.8672 resistance. However, if a correction does not happen, traders may expect a level breakout, followed by an ongoing upward move to the $0.88 mark.
On the bigger time frame, the rate of ADA has tested the $0.8643 level.
If a breakout happens, the rise may continue to the $0.90 range next week.
From the midterm point of view, bulls are more powerful than bears. However, the price of ADA might need some time to accumulate energy for a further move. In this case, sideways trading in the range of $0.80-$0.85 is the more likely scenario.
ADA is trading at $0.8667 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team