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 mainly red at the end of the week, however, there are some exceptions, according to CoinStats.
ADA/USD
Unlike other coins, the rate of Cardano (ADA) has risen by 1.28% over the last 24 hours.
On the hourly chart, the price of ADA is bullish as it is about to break the local resistance of $0.7263.
If it happens, the upward move may lead to a test of the $0.73-$0.74 range shortly.
On the bigger time frame, the rate of ADA might have found a local bottom. However, the volume is low, which means any sharp moves are unlikely to happen over the next few days.
From the midterm point of view, the price of ADA is going down after a false breakout of the resistance of $0.8955. If buyers cannot seize the initiative by the end of the week, the fall may continue to the $0.65 mark.
ADA is trading $0.7253 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team