The market is mainly bullish at the end of the week, according to CoinStats.
**ADA/USD Update**
The rate of Cardano (ADA) has increased by almost 4% since yesterday. However, over the past week, the price has fallen by 1.1%. On the hourly chart, ADA’s price is rising after breaking the local resistance level of $0.6462. If the daily candle closes above this mark, traders may soon see a test of the $0.67–$0.68 range.
Looking at the bigger time frame, ADA’s price continues to grow after bouncing back from the support level of $0.6092. Despite this upward movement, trading volume remains low, suggesting a lower likelihood of increased volatility.
Overall, sideways trading around the current price levels seems to be the more likely scenario. From a midterm perspective, there are no reversal signals so far. The price remains far from major levels, indicating a lack of strong momentum from both bulls and bears. In this case, traders are unlikely to see a significant bounce soon.
At the time of writing, ADA is trading at $0.6557.
https://u.today/cardano-ada-price-analysis-for-october-19
