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Most of the coins keep trading in the green zone on the first day of the weekend, however, there are some exceptions, according to CoinStats.
ADA/USD
The price of Cardano (ADA) has fallen by 1.36% since yesterday.
On the hourly chart, the rate of ADA might have set a local resistance at $0.3925. If the daily bar closes far from that mark, traders may witness a drop to the support shortly.
On the bigger time frame, there are no reversal signals so far. At the moment, traders should pay attention to the interim level at $0.3850. If a breakout happens, the accumulated energy might be enough for a move to the $0.37 area.
From the midterm point of view, bulls have failed to maintain the growth after the previous weekly bar closure.
If the candle closes around the current prices or below, sellers may seize the initiative, which may lead to a test of the $0.30 range by the end of the month.
ADA is trading at $0.3892 at press time.
Denys Serhiichuk
Vladislav Sopov
Tomiwabold Olajide
Godfrey Benjamin