The cryptocurrency market has begun the new week with a sharp rise as the majority of the coins are green.

Chart

Top coins by CoinMarketCap

ADA/USD

The rate of Cardano (ADA) has increased by 1.05% over the past 24 hours; however, this is far less than the growth of the main crypto.

Chart

ADA/USD chart by TradingView

Cardano (ADA) has bounced back the EMA 55 on the hourly chart. However, the growth was not accompanied by high trading volumes, which means that if it returns to that area, there is a high chance to see a breakout.

From another point of view, the ongoing rise may continue to the nearest local resistance at $2.062, where bears might again seize the initiative.

Chart

ADA/USD chart by TradingView

On the 4H chart, the situation is less positive as it could not fix above the zone of $2.050. If it breaks the EMA 55, the drop may lead ADA to the zone of the most liquidity around $1.979.

Chart

ADA/USD chart by TradingView

Cardano (ADA) made a false breakout of the $2 vital level. At the moment, bulls keep controlling the situation on the market. If the trading volume increases, the growth may lead the altcoin to the liquidity level at $2.140.

ADA is trading at $2.031 at press time.

Any financial and market information given on U.Today is written for informational purposes only. Conduct your own research by contacting financial experts before making any investment decisions.

Cryptos feed Join Telegram

Recommended content


Recommended Content

Editors’ Picks

Bitcoin price: Watchout for 30% decline in Bitcoin price, according to this indicator

Bitcoin price: Watchout for 30% decline in Bitcoin price, according to this indicator

Bitcoin price surpassed the key psychological barrier at $19,000 and sustained above this level. American businessman and author Robert Kiyosaki believes that it is a buying opportunity for BTC.

More Bitcoin News

Dogecoin Price Prediction: DOGE to revisit $0.65 to rebalance inefficiency

Dogecoin Price Prediction: DOGE to revisit $0.65 to rebalance inefficiency

Dogecoin price underwent a tight consolidation between September 28 and 30, which eventually resulted in an explosive move up that collected the buy-stop liquidity resting above the September 27 swing high.

More Dogecoin News

Litecoin price set for a profitable week in a battered quarter

Litecoin price set for a profitable week in a battered quarter

Litecoin (LTC) price is set to jump higher this week as markets see bulls storming out of the gate this Monday morning. After a very volatile two weeks where the world seemed to be on fire again and the apocalypse was near.

More Litecoin News

Terra LUNA Classic price could crash 60% despite burn announcement and Coinbase, Robinhood listing rumors

Terra LUNA Classic price could crash 60% despite burn announcement and Coinbase, Robinhood listing rumors

LUNA Classic (LUNC) is the new shitcoin and has overtaken Shiba Inu's popularity, becoming a retail favorite. After Binance announced the LUNC burn program on September 26, the altcoin surged 66% and is currently hovering above another stable support level. 

More Terra News

Bitcoin: BTC’s Q3 close and what to expect in Q4?

Bitcoin: BTC’s Q3 close and what to expect in Q4?

Bitcoin price has developed a bullish divergence with RSI, hinting at more upside. Despite the optimistic technicals, investors should expect volatile swings before the end of the third quarter of 2022. 

Read full analysis

BTC

ETH

XRP