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Bears are getting back in the game, according to CoinMarketCap.
ADA/USD
Cardano (ADA) is one of the biggest gainers today, rocketing by more than 10%.
On the hourly chart, the price of ADA is near the local resistance of $0.8484. If bulls can hold the initiative and the daily bar closes around that mark, growth may continue to the $0.90 range.
From the midterm point of view, traders should focus on the candle's closure in terms of the $0.8193 level. If the bar closes with no long wick, the accumulated energy might be enough for an ongoing upward move to the $0.90-$0.95 area soon.
From the midterm point of view, the picture is quite similar. At the moment, there are no reversal signals yet; however, one should wait until the weekly bar closes.
Denys SerhiichukIf it happens around current prices, there is a possibility to see a test of the vital $1 zone.
ADA is trading at $0.8224 at press time.
Arman Shirinyan
Gamza Khanzadaev
Dan Burgin
U.Today Editorial Team
Vladislav Sopov