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There are no bearish signals on the market so far today, according to CoinStats.
ADA/USD
The rate of Cardano (ADA) has gone up by 2.56% since yesterday.
On the hourly chart, the price of ADA has made a false breakout of the local support of $0.6847. If buyers' pressure continues, growth may continue to the $0.70 area by tomorrow.
On the bigger time frame, neither bulls nor bears are dominating. This statement is confirmed by the falling volume, which means none of the sides is ready to seize the initiative.
In this case, consolidation around current prices is the most likely scenario.
From the midterm point of view, the situation is similar. One should focus on the interim zone of $0.65. If its breakout happens, the accumulated energy might be enough for an ongoing correction to the $0.60 mark.
ADA is trading at $0.6939 at press time.
Vladislav Sopov
U.Today Editorial Team