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Most of the coins are back to the red zone, according to CoinStats.
ADA/USD
The price of Cardano (ADA) has declined by 2.05% since yesterday.
On the hourly chart, the rate of ADA is near the support of $0.8550. As most of the ATR has been passed, traders are unlikely to witness an increased volatility by tomorrow.
However, if the bar closes around current prices, the ongoing drop remains the most likely scenario.
On the longer time frame, bulls have failed to keep the rise going after yesterday's bullish closure. If the situation does not change by the end of the day, one can expect a test of the $0.8386 level soon.
From the midterm point of view, the rate of ADA has made a false breakout of the previous candle high of $0.8955. If the bar closes far from that mark, there is a chance to see a correction to the $0.80 range until the end of the month.
ADA is trading at $0.8595 at press time.
Vladislav Sopov
U.Today Editorial Team