The Cardano (ADA) cryptocurrency rate remains within a sideways trend, showing a 1% decline over the past day. Chart analysis reveals no clear direction.
Current Situation on ADA/USD Chart
On the hourly chart, ADA has set a local resistance level at $0.7299. If the current daily bar closes around this level or above, growth might continue toward the $0.74 range.
Dynamics on Higher Time Frames
On larger time frames, the ADA rate falls within yesterday's daily bar, showing market uncertainty and lack of strong dominance. The decreasing trading volume suggests potential sideways trading in the $0.70-$0.75 range.
Midterm Outlook for ADA Rate
The midterm outlook for the ADA rate is neutral. The price is far from key levels, confirming a lack of activity from both buyers and sellers. Consolidation within the current price range is the most likely scenario.
Currently, ADA is trading at $0.7210. Without substantial changes in trading volume or significant fundamental news, the sideways trend is expected to continue.
