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The prices of most of the cryptocurrencies keep falling, according to CoinStats.
ADA/USD
The rate of Cardano (ADA) has declined by 7.78% since yesterday.
On the hourly chart, the price of ADA has made a false breakout of the resistance of $0.6247. If the daily bar closes far from that mark, there is a high chance of witnessing a test of the support of $0.5960 by the end of the week.
On the longer time frame, sellers are more powerful than buyers. If bulls lose the interim zone of $0.60, one can expect a further decline to the $0.55 range.
From the midterm point of view, one should focus on the nearest level of $0.5192.
If the weekly bar closes below that mark, there is a high possibility of seeing the $0.50 range.
ADA is trading at $0.61919 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team