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 rates of some coins are rising, while the prices of others have returned to the red zone.
ADA/USD
Cardano (ADA) has not followed the bounce back of Bitcoin (BTC), going down by 2.15%.
On the local chart, the rate of Cardano (ADA) has set the support level at $0.3565. If buyers can hold the price above this mark, one can expect a correction to the resistance at $0.3635. Such a scenario is relevant until tomorrow.
Despite today's fall, bears have not seized the initiative yet as the rate is still above the $0.3489 mark.
Denys SerhiichukAs none of the sides is ready for a sharp move, sideways trading in the area of $0.36-$0.37 is the more likely scenario until the end of the week.
On the bigger time frame, the rate of Cardano (ADA) has made a false breakout of the nearest resistance at $0.3677. If the bar closes below that mark, the correction may continue to the $0.35 zone.
ADA is trading at $0.3602 at press time.
Yuri Molchan
Gamza Khanzadaev
Vladislav Sopov
Dan Burgin