u.today
Bulls are back in the game after a few days of a bearish market, according to CoinMarketCap.
ADA/USD
The rate of Cardano (ADA) has rocketed by 11.45% over the last 24 hours.
The price of ADA might have set a local resistance level of $0.9828. If the daily bar closes far from that mark, bears may seize the initiative, which may lead to a drop to the $0.93-$0.94 zone soon.
A more positive picture is on the bigger time frame. However, one should also focus on the bar closure in terms of the $0.9890 level.
If the candle closes around it or above and with no long wick, the accumulated energy might be enough for a test of the $1.05-$1.10 area.
From the midterm point of view, neither side is dominating as the price of ADA is far from the key levels. Thus, the volume is going down. In this case, sideways trading in the zone of $0.80-$1 is the more likely scenario.
ADA is trading at $0.9602 at press time.