Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.
Neither bulls nor bears are dominating today, according to the CoinMarketCap ranking.
ADA/USD
The price of Cardano (ADA) is almost unchanged since yesterday.
On the hourly chart, the price of Cardano (ADA) is trading near the local resistance at $0.32. If buyers can hold the rate near that mark until the end of the day, the rise may continue to the $0.3220 zone tomorrow.
On the daily time frame, the rate of Cardano (ADA) has made a false breakout of yesterday’s low at $0.3133. However, a one-day reversal is not enough for midterm growth.
In this case, sideways trading in the range of $0.32-$0.3250 is the more likely scenario until the end of the week.
On the bigger chart, traders should focus on the support level at $0.3187. If the candle closes above it, there is a possibility of seeing a bounce off to the zone around $0.33 by the end of the month.
ADA is trading at $0.3199 at press time.