At the end of the week, the market reflects bearish sentiment, which is also shown in the price dynamics of Cardano (ADA). Let's explore current trends and what to expect for this cryptocurrency in the coming days.
Price Dynamics of Cardano
In the last 24 hours, the price of Cardano (ADA) decreased by 2%, despite a weekly increase of 9.29%. Currently, ADA is trading at $0.7933.
Current Support and Resistance Levels
On the hourly chart, the price of ADA is near the local support at $0.79. If a bounce does not occur by the end of the day, the correction is likely to continue to $0.78. If the daily candle closes at current levels, a test of the $0.76-$0.78 range may follow.
Future Prospects
From a midterm perspective, attention should focus on the $0.8955 level. Should a breakout occur, the accumulated energy may push the price to the $1 mark.
The current situation in the Cardano market is influenced by bearish sentiment, yet there is potential for growth if key resistance levels are overcome.
