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.
In the second half of the day, the cryptocurrency market is trading sideways, according to CoinStats.
ADA/USD
The rate of Cardano (ADA) has fallen by 0.61% over the last 24 hours.
On the hourly chart, the price of Cardano (ADA) is trading near the local support level of $0.2453. If no bounce back happens until the end of the day, the breakout may lead to a blast to the $0.2440 area by tomorrow.
A similar situation is on the daily time frame. The rate of ADA is returning to the support level of $0.2447.
Denys SerhiichukIf buyers cannot seize the initiative shortly, traders are likely to see a test of the $0.24 range within the next few days.
From the midterm point of view, one should focus on the nearest level of $0.2380. As there are no reversal signals yet, one may expect a drop to $0.23 soon.
ADA is trading at $0.2458 at press time.
Alex Dovbnya
Vladislav Sopov
Dan Burgin