According to CoinStats, most cryptocurrencies are experiencing new highs today. Cardano (ADA) has risen by 2.55%, a significant jump. Chart analysis suggests that ADA is currently testing resistance at $0.7290 on the hourly chart, with potential for a move towards $0.74 if it breaks out. On the daily chart, price is testing $0.7281 level. If this level is closed above without significant downward movements, the price might continue to climb towards $0.76. 7-day and 21-day moving averages indicate that ADA is currently hovering in the middle of a wide channel between support at $0.6186 and resistance at $0.8466. Sideways trading within this range, likely between $0.70-$0.75 is the most probable scenario in the mid-term. At press time, ADA trades at $0.7276.
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