The market is not going to decline, according to CoinMarketCap. CoinMarketCap”>

ADAUSD

The price of Cardano ADAUSD has gone up by 2.17% over the past day.TradingView”>

On the hourly chart, the rate of ADA is rising after breaking the local resistance of $0.7440. If bulls can hold the gained initiative and the daily bar closes with no long wick, growth is likely to continue to the $0.76 mark.TradingView”>

On the longer time frame, the situation is also bullish. If a breakout of the $0.7591 level happens, the accumulated energy might be enough for a blast to the $0.78-$0.80 range. 

Such a scenario is relevant until the end of the week.TradingView”>

From the midterm point of view, the picture is less clear. At the moment, traders should focus on the nearest zone of $0.70. If the candle closes below it, there is a high chance to see an ongoing decline to the $0.66-$0.68 range.

ADA is trading at $0.7552 at press time.