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Bulls are controlling the situation on the market, according to CoinStats.
ADA/USD
The rate of Cardano (ADA) has risen by 2.48% over the last day.
On the hourly chart, the price of ADA is going down after a false breakout of the local resistance of $0.8924.
If a bounce back does not happen, there is a chance to see a test of the support by tomorrow.
On the longer time frame, the rate of ADA has failed to fix above the resistance of $0.8799. If the candle closes far from that mark, sellers may seize the initiative, which may lead to a correction to the $0.85 range.
From the midterm point of view, none of the sides is dominating, as the price of the altcoin is far from main levels. If the situation does not change, sideways trading in the area of $0.80-$0.90 is the most likely scenario.
ADA is trading at $0.8676 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team