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Most of the coins are in the green zone in the middle of the week, according to CoinMarketCap.
ADA/USD
Cardano (ADA) is the exception to the rule, falling by 0.11% since yesterday.
On the hourly chart, the rate of ADA might have set a local support of $0.5744. If the daily bar closes far from that level, the upward move may continue to the resistance by tomorrow.
On the longer time frame, the price of ADA has once again bounced off the resistance level. However, one should pay attention to the daily candle's closure.
If it happens above that mark, there is a chance of witnessing a test of the $0.60 zone.
From the midterm point of view, the rate is rising after a false breakout of the support of $0.5192. However, buyers need more time to accumulate energy for a further move. In this case, sideways trading in the range of $0.57-$0.62 is the most likely scenario.
ADA is trading at $0.5852 at press time.
Vladislav Sopov
U.Today Editorial Team