u.today
Buyers remain more powerful than sellers in the middle of the week, according to CoinMarketCap.
$ADA/USD
The rate of Cardano ($ADA) has risen by 2.23% over the last 24 hours.
On the hourly chart, the price of $ADA might have set a local resistance of $0.599. If buyers can hold the gained initiative and the daily bar closes near the upper level, one can expect a breakout, followed by a further upward move to the $0.61 area.
On the bigger time frame, the rate of $ADA is rising after yesterday's bullish closure. If the bar closes near its peak and with no long wick, traders may expect a test of the resistance of $0.6117 until the end of the week.
From the midterm point of view, the price of $ADA is far from key levels. In this case, one should pay attention to the bar's closure in terms of the previous candle's high.
If it happens near $0.61, the accumulated energy might be enough for a test of the $0.65 range.
$ADA is trading at $0.5973 at press time.