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Sellers have turned out to be more powerful than buyers, according to CoinStats.
ADA/USD
The price of Cardano (ADA) has fallen by 2.63% since yesterday.
The rate of ADA is bearish on the hourly chart. If bears' pressure continues, there is a possibility of seeing a further decline to the $0.39 range.
On the daily time frame, the price of ADA is about to close far from its peak or low. If it happens, there is a low chance of seeing any sharp moves by the end of the week.
From the midterm point of view, bears are controlling the situation on the market.
Denys SerhiichukIf buyers lose the vital zone of $0.40, the correction is likely to lead to the test of the $0.35 mark.
ADA is trading at $0.40 at press time.
Alex Dovbnya