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.
There is no one-way trend on the cryptocurrency market today as the rates of some coins are rising, while others are falling.
ADA/USD
The rate of Cardano (ADA) has increased by 0.26% over the last 24 hours.
On the hourly chart, the price of Cardano (ADA) is located closer to the resistance than to the support; however, one should pay attention to the daily bar closure. If the upward move continues, the breakout of the $0.2580 level might lead to a further rise to the $0.26 zone.
Despite today's rise of ADA, it is too early to think about a bullish reversal as the rate remains far from the vital level of $0.2612. Until the price is below it, there is still a chance to see one more wave of decline.
Denys SerhiichukBut if the candle closes near $0.26, bulls can seize the initiative, which might lead to a test of the $0.27-$0.2750 range soon.
From the midterm point of view, one should focus on the bar closure in terms of the last candle. If it happens above the previous bar peak, traders are likely to see a bull run. In this case, the energy can be enough for growth to the $0.27-$.28 zone. However, it might take a few weeks.
ADA is trading at $0.2551 at press time.
Alex Dovbnya
Dan Burgin
Vladislav Sopov