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The market keeps rising as most of the coins are still trading in the green zone.
ADA/USD
The rate of Cardano (ADA) has almost not changed since yesterday as the price has only risen by 0.07%.
On the hourly chart, the rate of Cardano (ADA) has declined after the false breakout of the local resistance level at $0.4349. If sellers' pressure continues, one can expect a drop below the $0.43 mark.
On the daily time frame, the situation is also bearish as the rate has returned to the recently tested support level at $0.4258. If the candle closes near it, there is a possibility to see a further downward move to the $0.40 zone.
The weekly chart confirms ongoing bears' pressure after the false breakout of the $0.50 zone. Closure near the $0.3974 mark might generate a sharp price decline to the next zone around $0.30-$0.35.
ADA is trading at $0.4316 at press time.
Godfrey Benjamin
Alex Dovbnya
Dan Burgin
Vladislav Sopov