ADA Nears Range Low

ADA Cardano is pulling back at the end of the week but it remains in a tight range. ADA is holding the support above $2.00 after rising to $2.38 on November 10, 2021, and then reversing to the last bottom of a day before. On the hourly chart, ADA is ranging near the fib 0.786 level at $2.06 and EMA 200 is acting as a local resistance here. Making the lower zone as support ADA is very likely to rise to the above range zone 2 and make it the value area before a final attempt to reclaim $2.38 price mark, the November 10, 2021 high.