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Bears are again more powerful than bulls today, according to CoinStats.
ADA/USD
Unlike other coins, the price of Cardano (ADA) has gone up by 0.81%.
On the hourly chart, the rate of ADA has made a false breakout of the local support of $0.6638. If the daily bar closes far from that mark, one can expect a test of the $0.70 zone soon.
On the bigger time frame, the situation is less clear. The volume is low, which means neither bulls nor bears are dominating.
Denys SerhiichukIn this case, sideways trading in the narrow range of $0.66-$0.70 is the more likely scenario.
On the weekly chart, there are no reversal signals yet. If bulls cannot seize the initiative soon, the decline may continue to the $0.55-$0.60 by the end of the month.
ADA is trading at $0.6767 at press time.
Dan Burgin
Vladislav Sopov