Does rate of Cardano (ADA) have enough strength for sharp move? Advertisement

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Most of the cryptocurrencies keep rising today, according to CoinStats.

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ADA/USD

Unlike other coins, the rate of Cardano (ADA) has been going down by 0.33% over the last day.

The price of ADA is approaching the local resistance of $0.6575. If it breaks out, one can expect a test of the $0.67 range soon.

On the bigger time, one should focus on the daily bar's closure in terms of the $0.6675 level. If the candle closes above it, there is a chance to witness a price blast to the $0.70-$0.75 area shortly.

From the midterm point of view, the rate of ADA is far from key levels. In this case, one should focus on the interim zone of $0.70. 

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If the weekly bar closes above it and with no long wick, growth is likely to continue to the $0.75 mark.

ADA is trading at $0.6518 at press time.