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The rates of most of the coins are going up today, according to CoinStats.
ADA/USD
The rate of Cardano (ADA) has gone up by 2.67% over the last 24 hours.
On the hourly chart, the price of ADA has made a false breakout of the local support of $0.8607. However, if a bounce back does not happen by the end of the day, the correction may continue to the $0.85 zone.
On the daily time frame, the rate of ADA is within yesterday's bar, which means neither bulls nor bears are controlling the situation.
Such a statement is also confirmed by the falling volume. All in all, traders are unlikely to see sharp moves soon.
From the midterm point of view, the picture is similar. As the price is far from the main levels, one should focus on the closest area of $1. If it breaks out, the upward move may continue to the $1.10-$1.20 range.
ADA is trading at $0.8642 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team