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A new week has started with market growth, according to CoinMarketCap.
ADA/USD
The rate of Cardano (ADA) has risen by 1.35% over the last day.
On the hourly chart, the price of ADA is falling after a false breakout of the resistance of $0.7754. If the daily bar closes near the support or below it, there is a chance to see a test of the $0.75 range soon.
On the bigger time frame, the candle is about to close bearish.
If bulls cannot seize the initiative, one can expect a test of the $0.74 area by tomorrow.
From the midterm point of view, it is too early to make any distant predictions. The volume remains low, which means neither buyers nor sellers are dominating. In this case, sideways trading around the current prices is the most likely scenario.
ADA is trading at $0.7582 at press time.
Vladislav Sopov
U.Today Editorial Team