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.
Most of the coins are in the red zone today, according to CoinStats.
ADA/USD
The rate of Cardano (ADA) has fallen by 5.33% over the last day.
On the hourly chart, the price of ADA is in the middle of the narrow channel, between the support of $0.7741 and the resistance of $0.8174.
As most of the daily ATR has been passed, there are low chances of seeing sharp moves by tomorrow.
On the bigger time frame, the rate of ADA has made a false breakout of the support of $0.7813. However, traders are unlikely to witness sharp ups or downs soon, as neither bulls nor bears have accumulated enough energy yet.
From the midterm point of view, one should focus on the weekly candle's closure in terms of the $0.8466 level. If it happens around it or above, the growth may continue to the $0.90 mark.
ADA is trading at $0.8017 at press time.
Vladislav Sopov
Dan Burgin