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Buyers keep holding the initiative at the end of the week, according to CoinStats.
ADA/USD
The rate of Cardano (ADA) has increased by 0.43% over the last 24 hours.
On the hourly chart, the price of ADA has made a false breakout of the local resistance level of $0.6642. If the fall continues, one can expect a test of the $0.64 zone tomorrow.
On the daily time frame, neither bulls nor bears are dominating as the rate is far from the support and resistance levels. Such a statement is also confirmed by the low volume, which means ADA needs more time to accumulate energy for a further move.
Denys SerhiichukIn this regard, ongoing consolidation in the narrow range of $0.64-$0.68 is the more likely scenario for the next days.
From the midterm point of view, the situation is similar to the daily chart. Respectively, traders are unlikely to see any sharp ups or downs shortly. All in all, one can witness sideways trading in the range of $0.60-$0.70 within the upcoming weeks.
ADA is trading at $0.6541 at press time.
Alex Dovbnya
U.Today Editorial Team
Vladislav Sopov
Dan Burgin