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The weekend has started with bull dominance, according to CoinMarketCap.
ADA/USD
The rate of Cardano (ADA) has risen by 0.66% over the last 24 hours.
On the hourly chart, the price of ADA is trading near the local resistance of $0.3575. If buyers can hold the gained initiative, the breakout may lead to a test of the $0.36 zone soon.
On the bigger time frame, one should pay attention to the bar closure in terms of the level of $0.3617. If it happens near it or above, the accumulated energy might be enough for growth to the $0.39-$0.40 range by the end of the month.
From the midterm point of view, the weekly bar is about to close bullish. However, a fast reversal is unlikely due to the lack of bulls' energy.
Denys SerhiichukSuch a statement is also confirmed by the falling volume. In this regard, an ongoing consolidation in the area of $0.34-$0.38 is the more likely scenario.
ADA is trading at $0.3573 at press time.
Yuri Molchan
Dan Burgin
U.Today Editorial Team
Vladislav Sopov