Original U.Today article
Does the price of Cardano (ADA) have enough energy for a move to the $0.30 zone?
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Most of the coins are in the green zone on the last day of the week, according to CoinStats.
ADA chart by CoinStatsADA/USD
The price of Cardano (ADA) has gone up by 2% over the last 24 hours.
Image by TradingViewOn the hourly chart, the rate of ADA is rising after a false breakout of the local support at $0.2694. If buyers’ pressure continues, one can expect a price blast to the $0.28 zone.
Image by TradingViewOn the longer time frame, the price of ADA is in the middle of a wide channel, between the support at $0.2436 and the resistance at $0.3034.
As none of the sides is dominating, ongoing sideways trading is the most likely scenario over the next few days.
Image by TradingViewFrom the midterm point of view, the rate of ADA has once again bounced off the support at $0.22. If the weekly bar closes far from that mark, bulls may seize the initiative, which may lead to growth to the $0.30-$0.35 area.
ADA is trading at $0.2736 at press time.
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Source: https://u.today/cardano-ada-price-analysis-for-february-8
