Cardano (ADA) Price Analysis for January 20

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

ADA/USD

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

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.

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.

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.

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