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The prices of most cryptocurrencies are going up today, according to CoinStats.
ADA/USD
The rate of Cardano (ADA) has increased by 5.76% since yesterday.
On the hourly chart, the price of ADA is on the way to the local support of $0.6286. If the daily candle closes around that mark, there is a chance of a level breakout, followed by a further decline to the $0.62 range.
On the daily time frame, the picture is bearish as the bar is about to close near the recently formed support of $0.6263.
Denys SerhiichukIf bulls cannot seize the initiative, one can expect a test of the $0.60 area soon.
From the midterm point of view, there are no reversal signals yet. If a return to the nearest zone of $0.70 does not happen, the correction is likely to continue to the $0.5192 level.
ADA is trading at $0.6322 at press time.
Dan Burgin
Vladislav Sopov