Can traders expect rise from Cardano (ADA) by end of week?Ozwin Casino No Deposit Bonus Advertisement

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The market has turned back to green again, according to CoinStats.

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ADA/USD

Cardano (ADA) is one of the biggest gainers today, rising by 7.64%.

On the hourly chart, the price of ADA is in the middle of the narrow channel, between the support of $0.6061 and the resistance of $0.6338. 

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If the daily bar closes near the upper level, there is a possibility to see a breakout, followed by a move to the $0.64-$0.65 range.

On the bigger time frame, one should focus on the bar's closure in terms of yesterday's candle peak. If it happens around $0.64 or above, one can expect a test of the $0.66 mark soon.

From the midterm point of view, the rate of ADA has once again bounced off the support of $0.5192. If the weekly candle closes far from that mark, growth may continue to $0.70 by the end of the week.

ADA is trading at $0.6178 at press time.