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.
Bears remain more powerful than bulls, according to the CoinMarketCap ranking.
Top coins by CoinMarketCap
ADA/USD
The rate of Cardano (ADA) has declined by almost 3% since yesterday.
Image by TradingView
Despite today's decline, Cardano (ADA) keeps looking bearish on the local chart as the price is on its way to the support at $0.3610. If the breakout of it happens, the drop may lead to the test of the $0.35 zone tomorrow.
Image by TradingView
A similar picture can be seen on the daily time frame as the rate is about to fix below the vital support at $0.3614. In this case, traders may expect a more profound decline to $0.33-$0.34 as quite a lot of energy has been accumulated for such a move.
Image by TradingView
Meanwhile, neither bulls nor bears have seized the initiative on the daily chart against Bitcoin (BTC). At the moment, one should pay attention to the level at 0.000013. If the breakout of it happens, the fall may continue to the 0.00001250 zone.
ADA is trading at $0.3627 at press time.
Yuri Molchan
Vladislav Sopov
Dan Burgin
Alex Dovbnya