The market is neither bullish nor bearish today, as some coins keep trading in the red zone, while others are trying to rise.
ADA/USD
Cardano (ADA) is one of the biggest gainers today, rocketing by almost 8%.
Despite today’s sharp growth, the rate of ADA continues looking bullish as the price has broken the local resistance level of $0.6017.
If the daily candle closes above that mark, the ongoing rise may continue to the $0.62 area.
On the bigger time frame, the fall has not continued after yesterday’s bearish bar. However, buyers need to fix above $0.6474 for a further upward move. Only in that case, there is a possibility to see a a test of the $0.70 zone.
The rate of ADA is also bullish on the daily chart against BTC. If the bar breaks the $0.00001467 level, the rise is likely to lead to the test of the $0.000015-0.000016 area soon.
ADA is trading at $0.6060 at press time.