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The crypto market keeps rocketing on the first day of the week, according to CoinStats.
ADA/USD
The price of Cardano (ADA) has gone up by 2% over the last 24 hours.
On the hourly chart, the rate of ADA is in the middle of the local channel, between the support of $0.7343 and the resistance of $0.7683. As none of the sides is dominating, there are low chances of seeing increased volatility by tomorrow.
On the longer time frame, the situation remains bullish as the price is approaching the resistance of $0.77. However, the volume keeps going down, which means buyers might need some time to accumulate energy for a further move.
In this case, sideways trading in the area of $0.75-$0.77 is the most likely scenario.
From the midterm point of view, there are no reversal signals yet. If the breakout of the nearest resistance level occurs, one can expect a test of the $0.90-$1 zone soon.
ADA is trading at $0.7580 at press time.
