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Cardano (ADA) Price Analysis for January 20

source-logo  u.today 20 January 2023 19:54, UTC
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Most of the coins are about to keep rising, according to their CoinMarketCap ranking.

Top 10 coins by CoinMarketCap

ADA/USD

The rate of Cardano (ADA) has risen by 1.42% over the last 24 hours.

<span class=ADA/USD chart by TradingView" src="https://cnews24.ru/uploads/978/9789856f7ebbeabf6c200f823ca3828f9524eaf3.png" size="2698x1318">

On the hourly chart, the price of Cardano (ADA) is trading near the resistance level at $0.3412 after the false breakout of the support at $0.3338.

If bulls can hold the gained initiative, the rise may continue to the $0.35 zone tomorrow.

<span class=ADA/USD chart by TradingView" src="https://cnews24.ru/uploads/711/711274cfc01e42086980208c5c72b99b61266618.png" size="2698x1318">

On the bigger time frame, Cardano (ADA) is not looking so bullish as the rate is far from the resistance level at $0.3697. However, if today's bar closes above yesterday’s peak at $0.3430, the growth may continue to $0.36 soon.

<span class=ADA/BTC chart by Trading View" src="https://cnews24.ru/uploads/d15/d15d5c9eb663e01c15a37b6b9737c6b33e5d3dcc.png" size="2698x1318">

On the daily chart against Bitcoin (BTC), the price is trying to keep yesterday's growth going. However, bulls might not have accumulated enough power for a trend change. In this case, the more likely scenario is sideways trading in the range of 0.000016-0.000001630.

ADA is trading at $0.3412 at press time.

u.today