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 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.
Vladislav Sopov