Cardano (ADA) Prediction for August 29

Buyers are getting back in the game at the end of the week, according to CoinMarketCap.

ADA/USD

The rate of Cardano (ADA) has increased by 1.6% over the last 24 hours.

On the hourly chart, the price of ADA might have found a local resistance level of $0.3652. It the daily bar closes near it, there is a chance to see a breakout, followed by an ongoing rise to the $0.37 zone.

The rate of ADA is rising after a false breakout of the support level of $0.3419. If the bar closes near its peak, the upward move may continue to the $0.38 range until the end of the week.

From the midterm point of view, buyers are not ready to keep the growth going. Such a statement is confirmed by the falling volume.

Bulls may start thinking about further growth only of they restore the rate of ADA above the $0.40 zone.

ADA is trading at $0.3643 at press time.

Source