Is price of Cardano (ADA) ready to rise?
The majority of the coins keep trading in the green zone, according to the CoinMarketCap ranking.
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ADA/USD
The rate of Cardano (ADA) has increased by 1.26% over the last 24 hours.
Image by TradingView
On the local time frame, the price of Cardano (ADA) has broken the resistance at $0.3108. If buyers can hold the initiative, the upward move may continue to the $0.3150 area tomorrow.
Image by TradingView
On the bigger time frame, traders should focus on yesterday's peak. If today's candle closes above it and with no long wick, the accumulated energy might be enough for a further rise to the $0.32 mark. Such a scenario is relevant until the end of the week.
Image by TradingView
On the weekly time frame, the price of ADA has once again bounced off the support level at $0.2996. Until the mark is above the $0.30 zone, buyers have chances for local growth.
In this regard, growth to the $0.32 area and above is the more likely scenario for the next few days.
ADA is trading at $0.3117 at press time.