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.
Bulls are trying to hold the gained initiative; however, some coins have entered a correction phase already.
ADA/USD
The rate of Cardano (ADA) has declined by 0.16% over the last 24 hours.
On the hourly chart, the price of ADA might have found a local support level of $0.4312. If the daily bar closes far from this mark, one can expect a further upward move to $0.4450.
On the bigger time frame, the rate of ADA has made a false breakout of yesterday's peak at $0.4550.
If the situation does not change by the end of the day, the decline may lead to the test of the $0.43 area soon.
On the weekly chart, the price has almost reached the resistance of $0.4633. If the bar closes near that mark with no long wick, there is a possibility to see a breakout, followed by a further rise to $0.50.
ADA is trading at $0.4377 at press time.
Alex Dovbnya
Valeria Blokhina
Vladislav Sopov
