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Most of the coins have failed to return to a bullish run, according to CoinMarketCap.
ADA/USD
Cardano (ADA) is one of the biggest losers today, falling by 8.86%.
On the hourly chart, the price of ADA has broken the local support of $0.6355. If the daily bar close far from it, traders may witness an ongoing decline to the $0.61 mark by tomorrow.
A similar picture can be seen on the daily time frame. If the candle closes below the support of $0.6263, the accumulated energy might be enough for a further downward move to the $0.60 range.
Denys SerhiichukSuch a scenario is relevant until the end of the week.
From the midterm point of view, there are also no reversal signals so far. If the weekly bar closes around the current prices or below, there is a chance to see a test of the $0.55 area shortly.
ADA is trading at $0.6284 at press time.
Vladislav Sopov
Dan Burgin