The market is bullish at the end of the week, according to CoinMarketCap.
ADA/USD
The rate of Cardano (ADA) has risen by almost 1% since yesterday.
On the hourly chart, the price of ADA is on its way to the local resistance of $0.6071. If the situation does not change, the test of the resistance may happen by tomorrow.
On the bigger time frame, the rate of ADA has made a false breakout of the resistance of $0.5880. However, there are low chances of seeing a sharp bounce back, as not enough energy has been accumulated yet.
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In this case, sideways trading in the zone of $0.60-$0.62 is the most likely scenario.
From the midterm point of view, one should focus on the weekly bar’s closure in terms of the $0.5946 level. If it happens far from it, there is a chance to witness a local correction to the $0.64 mark.
ADA is trading at $0.6028 at press time.
