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ADA/USD
The price of Cardano (ADA) has risen by 0.15% over the last 24 hours.
Image by TradingView
On the hourly chart, the price of Cardano (ADA) is near the resistance at $0.3689. Buyers are more powerful than sellers locally as the rate has bounced off the support at $0.3627.
If the situation does not change, the possible breakout may lead to a rise to the $0.37-$0.3720 zone tomorrow.
Image by TradingView
On the daily time frame, the rate of Cardano (ADA) keeps accumulating energy for a further move. Volume remains low, which means that one should not expect a sharp blast soon. However, if the candle closes with no long wicks and above the $0.37 mark, bulls could seize the initiative.
Image by TradingView
From the midterm point of view, Cardano (ADA) is also trading sideways as the price is in the middle of the wide channel. Thus, the volume keeps going down. In this regard, ongoing consolidation in the range of $0.36-$0.38 is the more likely scenario for the next days.
ADA is trading at $0.3670 at press time.