Denys Serhiichuk
Buyers could not hold the gained initiative until the end of the week, according to CoinMarketCap’s ranking.
ADA/USD
Despite the fall of Cardano (ADA) by 2.52% since yesterday, the coin’s price has grown by 11.40% over the last 7 days.
On the local chart, the price is located above the resistance at $0.3441. At the moment, one should pay attention to the daily closure. If it happens above the aforementioned mark, the growth may continue to the $0.35 zone shortly.
On the bigger chart, the situation is unclear as the price keeps trading in the wide range between the support at $0.3012 and the resistance at $0.3680. As neither side has accumulated enough energy for a further move, ongoing sideways trading in the area of $0.34-$0.35 is the more likely scenario.
On the weekly time frame, the price has once again bounced off the support level at $0.3212. While the price is above that mark, there is still hope for a local correction.
In this regard, the growth may lead to a test of the interim resistance area of $0.40.
ADA is trading at $0.3443 at press time.
