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Cardano (ADA) Price Analysis for January 20

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Cardano (ADA) Price Analysis for January 20

Most of the coins are about to keep rising, according to their CoinMarketCap ranking.

Cardano (ADA) Price Analysis for January 20

ADA/USD

The rate of Cardano (ADA) has risen by 1.42% over the last 24 hours.

Cardano (ADA) Price Analysis for January 20

On the hourly chart, the price of Cardano (ADA) is trading near the resistance level at $0.3412 after the false breakout of the support at $0.3338.

If bulls can hold the gained initiative, the rise may continue to the $0.35 zone tomorrow.

Cardano (ADA) Price Analysis for January 20

On the bigger time frame, Cardano (ADA) is not looking so bullish as the rate is far from the resistance level at $0.3697. However, if today’s bar closes above yesterday’s peak at $0.3430, the growth may continue to $0.36 soon.

Cardano (ADA) Price Analysis for January 20

On the daily chart against Bitcoin (BTC), the price is trying to keep yesterday’s growth going. However, bulls might not have accumulated enough power for a trend change. In this case, the more likely scenario is sideways trading in the range of 0.000016-0.000001630.

ADA is trading at $0.3412 at press time.

Source: ethereum.today

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