The market is back in the bullish zone, according to CoinStats.
ADA/USD
The rate of Cardano (ADA) has risen by 6.15% over the last day.
On the hourly chart, the price of ADA has made a false breakout of the $0.8672 resistance. However, if a correction does not happen, traders may expect a level breakout, followed by an ongoing upward move to the $0.88 mark.
On the bigger time frame, the rate of ADA has tested the $0.8643 level.
card
If a breakout happens, the rise may continue to the $0.90 range next week.
From the midterm point of view, bulls are more powerful than bears. However, the price of ADA might need some time to accumulate energy for a further move. In this case, sideways trading in the range of $0.80-$0.85 is the more likely scenario.
ADA is trading at $0.8667 at press time.
