Bears have become more active on the last day of the week as most of the coins have returned to the red area.
Top coins by CoinMarketCap
ADA/USD
The rate of Cardano (ADA) has declined by 2.13% over the last 24 hours.
Image by TradingView
On the hourly chart, the price of Cardano (ADA) is on the way to the local resistance at $0.3826. If the growth continues, the breakout may lead to a test of the $0.39 area tomorrow.
Image by TradingView
The opposite situation is on the daily time frame. Buyers are trying to keep the rate above the $0.38 mark despite sellers' pressure. If bulls fail to do that, the decline can continue to $0.37.
Such a scenario is relevant until the end of the upcoming week.
Image by TradingView
On the weekly chart, the rate of Cardano (ADA) may close below yesterday's candle low at $0.3761. If it happens, traders can expect a more profound decline to the $0.35 zone.
ADA is trading at $0.3811 at press time.
Vladislav Sopov
Tomiwabold Olajide