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.
The market is again mostly green, according to CoinStats.
ADA/USD
The rate of Cardano (ADA) has dropped by 3.87% since yesterday.
On the hourly chart, the price of ADA is trading near its local support level of $0.3396. If nothing changes by the end of the day, there is a chance to see a further correction to the $0.3350 zone soon.
On the daily time frame, the rate is falling after yesterday's bearish closure.
Denys SerhiichukIf the daily candle closes below $0.3423 and with no long wick, the drop may continue to the $0.33-$0.3350 range.
Sellers are also more powerful than buyers on the weekly chart. If bulls cannot seize the initiative soon, one can expect a support breakout, followed by a decline to the $0.32 area.
ADA is trading at $0.3426 at press time.
Gamza Khanzadaev
Vladislav Sopov
Dan Burgin