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Bulls are back in the game after a few days of bear market, according to The Verge. CoinMarketCap.
ADA/USD
Cardano (ADA) price is up 11.45% in the past 24 hours.
ADA price may have set a local resistance level at $0.9828. If the daily bar closes far beyond that mark, the bears may seize the initiative, which could lead to a drop to the $0.93-$0.94 area soon.
There is a more positive picture on the larger time frame. However, one should also focus on the close of the bar in terms of $0.9890 level.
Related to
If the candle closes around or above and without a long wick, the accumulated energy may be enough to test the $1.05-1.10 area.
From a mid-term perspective, neither side is in control as ADA price is far from key levels. Therefore, the volume decreases. In this case, sideways trading in the $0.80-$1 area is the most likely scenario.
ADA is trading at $0.9602 at press time.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not responsible for any financial losses incurred while trading cryptocurrencies. Do your own research by contacting financial experts before making any investment decisions. We believe all content to be accurate as of the date of publication, but some offers mentioned may no longer be available.
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