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Buyers are coming back to the game in the middle of the week, according to CoinMarketCap.
ADA/USD
The rate of Cardano (ADA) has risen by 0.48% over the last 24 hours.
On the hourly chart, the price of ADA has broken the local resistance of $0.5605. If buyers can hold the initiative, the upward move is likely to continue to the $0.57 zone.
On the bigger time frame, neither bulls nor bears are dominating as the rate of ADA is far from key levels. If buyers want to continue midterm growth, they need to restore the price above the resistance of $0.5882.
In that case, the blast may lead to a test of the $0.62 mark.
From the midterm point of view, the situation is similar. The low volume confirms the absence of buyers' and sellers' energy. If the picture remains the same until the end of the week, sideways trading in the area of $0.55-$0.60 is the most likely scenario.
ADA is trading at $0.5622 at press time.
Vladislav Sopov
U.Today Editorial Team