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The prices of most of the coins are rising after a slight correction, according to CoinStats.
ADA/USD
The rate of Cardano (ADA) has gone up by 1% over the past day.
On the hourly chart, the price of ADA has set a local support of $0.8829. If the situation does not change by the end of the day, one can expect a level breakout, followed by a dump to the $0.88 zone.
On the longer time frame, the rate of ADA has once again bounced off the resistance of $0.8947.
If the daily bar closes far from that mark, sellers may come back to the game, which may lead to a drop to the $0.8750-$0.88 area.
From the midterm point of view, the price of ADA is far from the support and resistance levels. The volume is falling, confirming the absence of bulls and bears' energy. In this regard, consolidation in the zone of $0.85-$0.95 is the most likely scenario.
ADA is trading at $0.8881 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team