u.today
The weekend has started with continued bear dominance, according to CoinMarketCap's ranking.
Top coins by CoinMarketCap
ADA/USD
The rate of Cardano (ADA) has dropped by almost 1% over the last 24 hours.
ADA/USD chart by TradingView" src="https://cnews24.ru/uploads/268/268c3c18ef7ff4a6850bf0dfe84a5c52fbc47b6f.png" size="2710x1300">
Image by TradingView
On the hourly chart, the price of Cardano (ADA) is trying to break the local resistance at $0.2647. If it manages to do that and fixes above, the upward move may continue to the $0.2680 mark tomorrow.
ADA/USD chart by TradingView" src="https://cnews24.ru/uploads/75d/75dd3f76af1d82458bf8937d1ce6de6170741f20.png" size="2710x1300">
Image by TradingView
On the bigger time frame, traders should focus on yesterday's peak at $0.2674. If the bar closes near it, there is a high possibility of further growth to the next resistance at $0.2761.
Such a scenario is relevant until the end of the upcoming week.
ADA/USD chart by TradingView" src="https://cnews24.ru/uploads/515/5154531e6f57b08eb6ed4b81e9201a9c0a449601.png" size="2710x1186">
Image by TradingView
On the weekly chart, the price of ADA is approaching the support level of $0.22. If sellers' pressure continues, the accumulated energy might be enough for a sharp drop to the $0.20 zone soon.
ADA is trading at $0.2647 at press time.