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Buyers have energy for an ongoing rise, according to CoinMarketCap.

ADA/USD

The price of Cardano (ADA) has risen by 4.39% since yesterday.

On the hourly chart, the rate of ADA might have set a local resistance level of $0.3743. If the daily bar closes far from it, the decline may continue to the support zone by tomorrow.

On the bigger time frame, the price has once again bounced off the resistance of $0.3730. If bulls cannot seize the initiative by the end of the day, there is a chance to see a drop to the $0.36 area by the end of the week.

From the midterm point of view, one should pay attention to the weekly candle closure.

If this happens near its peak, the upward move may lead to the test of the $0.38-$0.40 range shortly.

ADA is trading at $0.37 at press time.