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The price of Cardano (ADA) has surged by 11.45% in the past 24 hours.
The price of ADA may have set a local resistance at $0.9828. If the daily candle closes far from this mark, the bears may take control, potentially causing the price to quickly fall to the $0.93-0.94 area.
A larger time frame presents a more positive picture. However, people should also pay attention to the candlestick closing at the 0.9890 level.
If the candle closes near or above it and there is no long wick, the accumulated energy may be enough to test the $1.05-$1.10 range.
From a medium-term perspective, neither party has taken the dominant position due to ADA's price being far from the key level. As a result, the trading volume is decreasing. In this situation, it is more likely to see sideways trading in the range of $0.80 to $1.