As a seasoned researcher with years of experience in the cryptocurrency market, I’ve seen more than a few rollercoaster rides. The weekend correction on the crypto market, as per CoinMarketCap, is just another curve in this wild ride.
The correction continues on the cryptocurrency market on the weekend, according to CoinMarketCap.
ADA/USD
The price of Cardano (ADA) has gone down by 0.09% over the last 24 hours.
On the hourly chart, the rate of ADA has broken the local resistance of $0.3243.
As an analyst, I’d interpret today’s close above the specified level without a significant wick downward as a strong sign suggesting the bullish trend may persist tomorrow, potentially reaching the $0.33 price range.
Looking at the long-term perspective, the price of ADA has surged following a misleading break below its support level at $0.3050. If the current candle closes close to $0.33, it may gather enough momentum for a continued rebound towards the $0.34-$0.35 range.
Looking from a midterm perspective, it’s important to keep an eye on the weekly price closures. If these occur around the current levels, there could potentially be a small increase towards the $0.35 range.
ADA is trading at $0.3243 at press time.
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2024-09-07 19:47