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.
None of the sides is dominating today, according to CoinMarketCap.
Cardano (ADA) is the exception to the rule as its rate has increased by 0.47% since yesterday.
Despite today's slight rise, the price of ADA is bearish on the local chart as the rate has once again tested the support of $0.2451. If the daily candle closes near it, the breakout may lead to an ongoing decrease to the $0.2430-$0.2440 zone soon.
On the daily time frame, the situation is not so clear. The rate of ADA remains under bearish pressure as the price is still far from the resistance.
Thus, the volume is low, which means that traders are unlikely to see any sharp moves soon. In this case, sideways trading in the area of $0.2420-$0.2480 is the more likely scenario for the next days.
On the daily chart against Bitcoin (BTC), ADA is looking bullish as the growth continues after a false breakout of the support of $0.00000920. If today's bar closes above yesterday's peak, one can expect a quicker test of the resistance of $0.00000951.
ADA is trading at $0.2456 at press time.