In recent days, Cardano (ADA) has been showcasing positive price dynamics, attracting trader interest. Despite selling pressure, prices of most cryptocurrencies, including ADA, continue to rise.
Current Market Situation for Cardano
The price of Cardano (ADA) has increased by 0.56% over the past 24 hours, reaching $0.8717 at the time of publication.
Key Levels and Possible Breakouts
On the hourly chart, the price of ADA is nearing the local resistance level of $0.8737. If a breakout occurs, traders may witness a test of the $0.89-$0.90 zone. A significant factor will be the candle's closure from yesterday. If it closes above this key level, further growth toward $0.90 is likely.
Medium-Term Forecast
From a medium-term perspective, the situation remains uncertain, as neither side is dominating the market. Traders should pay attention to the psychological level at $1. If the price closes above it, upward movement toward the $1.20 range is probable.
Thus, the $0.8737 level is critical for the further growth of Cardano. Trading within these limits requires caution and attention from investors.
