How much power does ADA need to accumulate for a further sharp move? CardanoStiftung ADAcoin_ Cardano cardano Cardano_ emurgo_io CardanoCommunity
On the hourly time frame, the price of Cardano has reached the local resistance at $0.3891. However, the rate has not fixed above it yet. If the buyers can keep their pressure and the candle closes with no wicks, the accumulated energy might be enough for a breakout, followed by an impulse to the $0.3950 zone.
On the daily chart, the price is locating in the middle of the channel, which means one should not expect any sharp moves soon. Likewise, the more likely scenario is sideways trading in the area of $0.38-$0.40 until mid-February. The weekly time frame tells us almost the same things: Cardano is not ready yet for any midterm moves, and the falling volume confirms that.
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