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.
Bulls remain more powerful than bears on the last working day of the week, according to CoinMarketCap.
ADA/USD
The price of Cardano (ADA) has increased by 4.45% over the last 24 hours.
On the hourly chart, the rate of ADA has made a false breakout of the local resistance of $0.8038.
However, if the daily bar closes around that mark, one can expect a level breakout, followed by ongoing growth to the $0.82 range.
On the longer time frame, the price of the altcoin is rising after yesterday's bullish closure. If bulls can hold the gained initiative and keep the rate above $0.80, the upward move may continue to the $0.85 zone.
From the midterm point of view, traders should focus on the candle's closure in terms of the $0.8955 level. If growth continues to that mark, the accumulated energy might be enough for a breakout, followed by an ongoing rise to the $0.90-$1 range.
ADA is trading at $0.7985 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team