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The crypto market is trying to stay in the green zone, however, there are some exceptions, according to CoinStats.
ADA/USD
The price of Cardano (ADA) has fallen by 1.08% over the last 24 hours.
On the hourly chart, the rate of ADA has fixed below the local support of $0.8221.
If the daily bar closes far from that mark and with no long wick, traders may witness a further decline to the $0.81-$0.8150 range soon.
On the bigger time frame, sellers are also more powerful than buyers. If bulls lose the $0.821 mark, the accumulated energy might be enough for a test of the $0.75 zone. Such a scenario is relevant until the end of next week.
From the midterm point of view, there are no reversal signals yet. In this case, one should focus on the interim area of $0.80. If the weekly bar closes below it, the decline may continue to the $0.70 range.
ADA is trading at $0.8202 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team