Cardano (ADA) Price Prediction for June 20

06-20

The market is bullish at the end of the week, according to CoinMarketCap.

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.

Sector:

SEC Security Token

Layer 1

Smart Contracts

Source

Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.

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