The market keeps trading sideways as some coins are rising, while others are falling.
ADA/USD
The rate of Cardano (ADA) has increased by 2.24% over the last 24 hours.
On the hourly chart, the price of ADA has broken the local resistance level of $0.2640 against the rising volume. If buyers can hold the gained initiative and keep the rate above that mark, the upward move is likely to continue to the $0.27 zone.
Bulls are also more powerful than bears on the bigger time frame. However, it is too early to think about a midterm rise until the rate fixes above the $0.27 area.
If that happens, traders may expect the price of ADA in the range of $0.28-$0.29 until mid-October.
From the midterm point of view, ADA has not gained enough energy for continued growth. Thus, the volume is low, which means that buyers are not ready to buy at the current prices. All in all, sideways trading in the area of $0.2650-$0.2750 is the more likely scenario for the next few weeks.
ADA is trading at $0.2650 at press time.
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