Mr Arham

06/21 13:15

Cardano (ADA) Price Prediction for June 20 ADA/

Cardano (ADA) Price Prediction for June 20



ADA/USD

The rate of Cardano (ADA) has risen by almost 1% since yesterday.



On the hourly chart, the price of ADA is on its way to the local resistance of $0.6071. If the situation does not change, the test of the resistance may happen by tomorrow.


On the bigger time frame, the rate of ADA has made a false breakout of the resistance of $0.5880. However, there are low chances of seeing a sharp bounce back, as not enough energy has been accumulated yet. 


In this case, sideways trading in the zone of $0.60-$0.62 is the most likely scenario.


From the midterm point of view, one should focus on the weekly bar's closure in terms of the $0.5946 level. If it happens far from it, there is a chance to witness a local correction to the $0.64 mark.

ADA is trading at $0.6028 at press time.

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