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.
Bulls are back in the game after sharp growth; however, some coins remain in the red zone.
ADA/USD
The rate of Cardano (ADA) has risen by 0.64% over the last 24 hours.
On the local chart, the rate of Cardano (ADA) is going down after the false breakout of the hourly resistance level at $0.4589. At the moment, the price is on its way to the support at $0.4410. If buyers cannot seize the initiative, the drop may lead to the test of the $0.4350 mark soon.
On the daily chart, the situation is a bit different as the price is stuck in the middle of the channel. Traders can think about possible growth only when ADA gets back to the $0.46 zone.
From the midterm point of view, bears are not going to give up as the price is slowly approaching the support level at $0.3974. In this case, a more likely scenario is a further downward move to the $0.35 area until the end of the month.
ADA is trading at $0.4488 at press time.
Arman Shirinyan
Alex Dovbnya
