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Bears are back to the game as the rates of most of the coins are in the red zone, according to CoinStats.
ADA/USD
The price of Cardano (ADA) has fallen by 2% since yesterday.
On the hourly chart, the rate of ADA has once again bounced off the support of $0.7460.
If bulls cannot seize the initiative, traders may witness a level breakout, followed by an ongoing decline to the $0.74 range.
On the bigger time frame, the price of ADA is far from key levels. In this case, one should focus on the interim level of $0.74. If it breaks out, there is a possibility to see a test of the support of $0.7171 by the end of the week.
From the midterm point of view, bears keep controlling the situation on the market. If the rate fixes below the $0.7171 level, there is a possibility to witness a drop to $0.65.
ADA is trading at $0.7429 at press time.
U.Today Editorial Team
Vladislav Sopov