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Most of the coins remain under sellers' pressure, according to CoinMarketCap.
ADA/USD
Cardano (ADA) is one of the biggest losers today, falling by 2.59%.
On the hourly chart, the rate of ADA has bounced off the local support of $0.5999. If the daily bar closes far from that mark, there is a chance to see a test of the resistance by tomorrow.
On the bigger time frame, the situation remains bearish as the price of the altcoin is near the support level. Thus, the volume remains low, which means buyers are not ready yet to seize the initiative.
If the breakout happens, the accumulated energy might be enough for a move to the $0.58 zone.
From the midterm point of view, the rate of ADA is breaking the support of $0.6153. If the weekly bar closes below that mark, traders may witness an ongoing decline to the $0.55 area.
ADA is trading at $0.6049 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team