Cardano (ADA) Prediction for September 7

The correction continues on the cryptocurrency market on the weekend, according to CoinMarketCap.

ADA/USD

The price of Cardano (ADA) has gone down by 0.09% over the last 24 hours.

On the hourly chart, the rate of ADA has broken the local resistance of $0.3243.

If the daily bar closes above that mark and with no long wick, the upward move is likely to continue tomorrow to the $0.33 range.

On the bigger time frame, the price of ADA is rising after a false breakout of the support level of $0.3050. If the candle closes near $0.33, the energy might be enough for an ongoing bounce back to the $0.34-$0.35 zone.

From the midterm point of view, one should pay attention to the weekly bar closure. If it happens around the current prices, there is a chance of a local rise to the $0.35 area.

ADA is trading at $0.3243 at press time.

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