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The end of the week has turned out to be bullish for the market, according to CoinStats.
ADA/USD
The price of Cardano (ADA) has gone up by 2.32% over the last 24 hours.
On the hourly chart, the rate of ADA might have set a local resistance of $0.5906. As most of the ATR has been passed, any sharp moves are unlikely to happen by tomorrow.
On the bigger time frame, neither buyers nor sellers are dominating as the price is far from the main levels.
The volume keeps going down, which means ongoing sideways trading in the narrow range of $0.58-$0.60 is the more likely scenario.
From the midterm point of view, the picture is similar. The weekly bar is about to close neutral, which means traders are unlikely to witness increased volatility next week.
ADA is trading at $0.5847 at press time.
Vladislav Sopov
U.Today Editorial Team