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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 liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
The prices of most of the coins keep rising, however, there are some exceptions to the rule.
The rate of Cardano (ADA) is going up, growing by 1.31% over the last 24 hours.
On the hourly chart, the price of ADA might have set a local support level of $0.5909. Currently, the rate is on its way to testing the resistance of $0.6118.
If buyers can hold the initiative and the daily bar closes near the $0.61 zone, there is a chance to see a blast to the $0.62 area.
On the bigger time frame, traders should focus on the bar’s closure in terms of yesterday’s peak. If it happens above $0.6126, the upward move may continue to the nearest resistance of $0.6174. Such a scenario is relevant until the end of the week.
The weekly chart is also looking bullish as the rate keeps rising after the breakout of the $0.5482 level. At the moment, one should pay attention to the closure in terms of the interim level of $0.62. If it happens near that mark and with no long wick, there is a chance to see a test of the $0.65-$0.68 area by the end of the month.
ADA is trading at $0.6063 at press time.