Can Cardano (ADA) keep growing faster than the other coins?

Denys Serhiichuk U.Today

The last day of the weekend is rather more bearish than bullish for the cryptocurrency market as the majority of the top 10 coins are in the red zone.

Top coins by CoinMarketCap

ADA/USD

Cardano (ADA) is the only gainer from the list, rising by 4% since yesterday, while the price change over the last week has increased by +21.48%.

ADA/USD chart by TradingView

On the hourly chart, the decline may have finished for today as bulls are showing strength at the mark around $2.55. Thus, the selling trading volume is going down, which confirms bears' weakness.

In this case, one might expect a bounceback to the resistance of $2.60 by the end of the day.

ADA/USD chart by TradingView

On the bigger chart, there is a high possibility of seeing a test of yesterday's high at $2.52 before the growth continues. One should consider such a move as gaining power for an ongoing price rise.

ADA/USD chart by TradingView

On the weekly time frame, the drop may be more profound. If a decrease occurs, Cardano (ADA) may test the previous peak at $2.47, followed by a bounceback.

ADA is trading at $2.57 at press time.

Read full original article on U.Today

Author

Denys Serhiichuk

U.Today

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis.

XRP recovers slightly as bearish sentiment dominates crypto market

Ripple is rising above $1.40 at the time of writing on Monday amid fresh tariff-triggered headwinds in the broader cryptocurrency market. The sell-off to $1.33, the token’s intraday low, can be attributed to macroeconomic uncertainty, geopolitical tensions and risk-averse sentiment among other factors.