The price of Cardano (ADA) has shown significant growth, rising by 6.15% in just one day.
Current Price Dynamics of ADA
On the hourly chart, ADA experienced a false breakout of the $0.8672 resistance level. If no correction occurs, traders may expect a breakout of this level, making a move towards $0.88 more likely.
Forecast for the Coming Week
On a larger time frame, the price of ADA has tested the $0.8643 level. If a breakout occurs, further growth to the $0.90 mark is expected next week. In the mid-term perspective, bulls appear stronger than bears. However, ADA may need some time to accumulate energy for further movement, with sideways trading in the $0.80-$0.85 range being a more likely scenario.
Overall Market Situation
Currently, ADA is trading at $0.8667. The market overall has returned to a bullish zone, which could foster further cryptocurrency growth.
In conclusion, the current situation in the Cardano market remains positive, creating conditions for possible growth in the near future.
