Cardano (ADA) Price Analysis for January 26
The light correction seems to have finished as most of the coins are again in the green zone.
Cardano (ADA) is one of the biggest gainers today, rocketing by 6.62%.
On the hourly chart, the price of Cardano (ADA) is trading near the resistance level at $0.3832, after the fasel breakout of the support at $0.3736. If buyers can hold the gained initiative by the end of the day, the further rise may continue to the $0.39 mark tomorrow.
On the bigger time frame, one should pay attention to the resistance level at $0.3872. If the candle closes near it with no long wicks, there are chances to see a further upward move to the important zone around $0.40. Such a scenario is relevant until the end of the week.
On the daily chart against Bitcoin (BTC), Cardano (ADA) keeps accumulating power in the range between the support at 0.00001548 and the resistance at 0.00001676. At the moment, bulls are more powerful than bears to a certain extent, and the price is closer to the upper level. If the bar closes above it, traders may see a midterm rise as the energy has enough energy has been gathered enough for such a move.
ADA is trading at $0.3818 at press time.