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Bulls are trying to seize the initiative, according to the CoinMarketCap ranking.
The price of Cardano (ADA) has risen by 0.19% over the last 24 hours.
The price of Cardano (ADA) is trading near the local support level at $0.2612. If buyers can hold this mark until the end of the day, the correction may continue to the resistance at $0.2650. Such a scenario is relevant until tomorrow (Wednesday) evening.
On the daily chart, the rate of Cardano (ADA) could not keep yesterday’s bullish closure going. Thus, the volume is going down, which confirms ongoing sideways trading.
In this case, the more likely scenario is consolidation in the narrow range of $0.26-$0.2650 for the next few days.
On the daily time frame against Bitcoin (BTC), Cardano (ADA) has once again bounced off the resistance level at 0.00001572. If bulls cannot restore the price above it, bears are likely to keep the pressure on. Likewise, there is still a chance to see the test of the 0.00001540 support zone soon.
ADA is trading at $0.2605 at press time.