Sellers are Keeping the Pressure On

According to CoinStats, Cardano (ADA) is the exception today, rising by 2.03%.

ADA/USD

Despite today’s growth, the rate of ADA keeps looking bullish. On the hourly chart, the price is near the local resistance of $0.7387. If the daily bar closes around that mark, the breakout may lead to a test of the $0.76-$0.78 area.

A less bullish picture can be seen on the daily time frame. Even if the bar closes around current prices, buyers might need more time to accumulate energy for a further move. In this case, sideways trading in the range of $0.66-$0.75 is the more likely scenario.

From the midterm point of view, the situation is similar. The price is far from key levels, which means there are low chances of seeing increased volatility soon.

ADA is trading at $0.7154 at press time.