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The last day of the weekend is rather more bearish than bullish for the cryptocurrency market as the majority of the top 10 coins are in the red zone.
ADA/USD
Cardano (ADA) is the only gainer from the list, rising by 4% since yesterday, while the price change over the last week has increased by +21.48%.
On the hourly chart, the decline may have finished for today as bulls are showing strength at the mark around $2.55. Thus, the selling trading volume is going down, which confirms bears' weakness.
Denys SerhiichukIn this case, one might expect a bounceback to the resistance of $2.60 by the end of the day.
On the bigger chart, there is a high possibility of seeing a test of yesterday's high at $2.52 before the growth continues. One should consider such a move as gaining power for an ongoing price rise.
On the weekly time frame, the drop may be more profound. If a decrease occurs, Cardano (ADA) may test the previous peak at $2.47, followed by a bounceback.
ADA is trading at $2.57 at press time.
Alex Dovbnya
Dan Burgin