The rates of some coins are rising, while the prices of others have returned to the red zone.
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.
As 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.