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Neither bulls nor bears are dominating today, according to CoinStats.

ADA/USD

The price of Cardano (ADA) has risen by 0.6% over the last 24 hours.

On the hourly time frame, the rate of ADA has set a local resistance of $0.2958. If the daily bar closes around that mark, the breakout may lead to a blast to the $0.30 zone soon.

Bulls are also dominating on the daily time frame. If a breakout happens, the accumulated energy might be enough for a continued rise to the $0.3050-$0.31 area next week.

From the midterm point of view, the candle is about to close in the bullish zone.

Moreover, if that happens with no long wicks, traders are likely to see a test of the $0.32 area by mid-November.

ADA is trading at $0.2955 at press time.

About the author

Denys Serhiichuk

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at [email protected].