Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
The majority of the cryptocurrencies have returned to the red zone, according to CoinStats.
ADA/USD
The price of Cardano (ADA) has declined by 2.15% over the last 24 hours.
On the hourly chart, the rate of ADA has bounced off the local support level of $0.4180. If the situation does not change, one can expect a test of the resistance by tomorrow.
A different situation can be seen on the daily time frame. Bears still remain more powerful than bulls as the rate is near the interim zone of $0.42. If the candle closes near it, traders may witness an ongoing correction to the $0.40 range.
From the midterm point of view, bulls have failed to keep the growth after a bullish bar closure.
Denys SerhiichukIf the weekly bar closes far from $0.45, sellers may return the rate to the $0.40 zone.
ADA is trading at $0.4264 at press time.
Yuri Molchan
Vladislav Sopov
Dan Burgin