Cardano (ADA) Price Prediction for February 16

The prices of most of the coins keep rising, however, there are some exceptions to the rule.

ADA/USD

The rate of Cardano (ADA) is going up, growing by 1.31% over the last 24 hours.

On the hourly chart, the price of ADA might have set a local support level of $0.5909. Currently, the rate is on its way to testing the resistance of $0.6118.

If buyers can hold the initiative and the daily bar closes near the $0.61 zone, there is a chance to see a blast to the $0.62 area.

On the bigger time frame, traders should focus on the bar’s closure in terms of yesterday’s peak. If it happens above $0.6126, the upward move may continue to the nearest resistance of $0.6174. Such a scenario is relevant until the end of the week.

The weekly chart is also looking bullish as the rate keeps rising after the breakout of the $0.5482 level. At the moment, one should pay attention to the closure in terms of the interim level of $0.62. If it happens near that mark and with no long wick, there is a chance to see a test of the $0.65-$0.68 area by the end of the month.

ADA is trading at $0.6063 at press time.

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