Cardano (ADA) Price Analysis for January 10 - U.Today

Most of the coins keep trading in the green zone on the first day of the weekend, however, there are some exceptions, according to CoinStats.

ADA chart by CoinStats## ADA/USD

The price of Cardano (ADA) has fallen by 1.36% since yesterday.

Image by TradingViewOn the hourly chart, the rate of ADA might have set a local resistance at $0.3925. If the daily bar closes far from that mark, traders may witness a drop to the support shortly.

Image by TradingViewOn the bigger time frame, there are no reversal signals so far. At the moment, traders should pay attention to the interim level at $0.3850. If a breakout happens, the accumulated energy might be enough for a move to the $0.37 area.

Image by TradingViewFrom the midterm point of view, bulls have failed to maintain the growth after the previous weekly bar closure.

If the candle closes around the current prices or below, sellers may seize the initiative, which may lead to a test of the $0.30 range by the end of the month.

ADA is trading at $0.3892 at press time.