The market is rising today after a few days of correction, according to CoinMarketCap.
Top coins by CoinMarketCapADA/USD
The rate of Cardano (ADA) has increased by 1.46% over the last 24 hours.
Image by TradingViewOn the hourly chart, the price of ADA keeps looking bullish on the hourly chart. If buyers can hold the gained initiative, one can expect a level breakout, followed by a move to the $0.36 mark.
Image by TradingViewOn the longer time frame, the rate of ADA has once again bounced off the support of $0.3466. However, buyers might need more time to accumulate energy for a further move.
In this case, sideways trading in the zone of $0.35-$0.37 is the most likely scenario.
Image by TradingViewFrom the midterm point of view, the price of the altcoin has made a false breakout of the previous candle’s low. If the bar closes far from that mark, there is a chance to see a bounce off to $0.38-$0.40 for the rest of the month.
ADA is trading at $0.3569 at press time.
Source: https://u.today/cardano-ada-price-analysis-for-december-26
