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The rates of most of the coins continue setting new local peaks, according to CoinStats.
ADA/USD
Cardano (ADA) is one of the biggest gainers today, rising by 2.55%.
On the hourly chart, the rate of ADA is testing the resistance of $0.7290.
If it breaks out, traders may witness a test of the $0.74 zone shortly.
On the longer time frame, the price of ADA is testing the $0.7281 level. If the daily bar closes above it and with no long wick, one should expect an ongoing move to the $0.76 zone.
From the midterm point of view, the rate is in the middle of a wide channel, between the support of $0.6186 and the resistance of $0.8466. As none of the sides is dominating, ongoing sideways trading in the range of $0.70-$0.75 is the more likely scenario.
ADA is trading at $0.7276 at press time.
Vladislav Sopov
U.Today Editorial Team