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 cryptocurrency market is trading sideways as some coins are trading in the red zone, while others are in the green.
ADA/USD
The price of Cardano (ADA) has risen by 0.15% over the last 24 hours.
On the hourly chart, the rate of Cardano (ADA) is trading within a narrow channel, between the support at $0.2516 and the resistance at $0.2536.
Denys SerhiichukAt the moment, the price is on its way to the bottom line, which means that there are high chances to see a drop to the $0.25 zone soon.
On the daily time frame, the situation is worse as bulls are not ready for growth after the false breakout of the support level at $0.2488. If the candle closes near it, one can expect a sharp drop to the $0.2460 mark.
A similar situation can be seen on the chart against Bitcoin (BTC). The price has broken the 0.000015 mark, which means that the rate has not found the local bottom yet. Respectively, the decline may continue to the recently formed support at 0.00001478.
ADA is trading at $0.2495 at press time.
Alex Dovbnya
Arman Shirinyan
U.Today Editorial Team
Vladislav Sopov
Dan Burgin