Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Bulls are losing their initiative, according to CoinStats.
ADA/USD
The rate of Cardano (ADA) has dropped by 4.35% over the last 24 hours.
Despite today's fall, the price of ADA keeps looking bearish. The rate is about to break the local support of $0.6963. If it happens, one can expect a test of the $0.68-$0.69 zone shortly.
On the bigger time frame, the rate of ADA is approaching the support of $0.6909. If a breakout happens, the accumulated energy might be enough for a move to the $0.60 mark.
From the midterm point of view, the rate of the altcoin is far from the key levels. However, the current weekly bar is looking bearish if it closes around the current prices.
Denys SerhiichukIn this case, traders may witness a test of the $0.55-$0.60 range the next month.
ADA is trading at $0.6987 at press time.
Vladislav Sopov
Dan Burgin