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The market keeps rising today, according to CoinMarketCap.
ADA/USD
Cardano (ADA) is one of the biggest gainers today, rocketing by 8.24%.
On the hourly chart, the rate of ADA is falling after a false breakout of the resistance of $0.7969. If the daily bar closes far from that level, the correction is likely to continue to the $0.76 mark.
On the bigger time frame, the price of ADA has bounced off the resistance of $0.8176.
If the candle closes around current prices, there is a chance to see a correction to the $0.75 zone soon.
From the midterm point of view, one should focus on the weekly bar closure in terms of the $0.7786 level. If it happens around it or above, growth may lead to a test of the $0.85 area.
ADA is trading at $0.7810 at press time.
Vladislav Sopov