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The rates of most of the coins are again in the red zone, according to CoinStats.
ADA/USD
The price of Cardano (ADA) has fallen by 0.18% since yesterday.
On the hourly chart, the rate of ADA is going down after setting a local resistance of $0.8233. If the decline continues, one can expect a test of the $0.81 zone by tomorrow.
On the longer time frame, the price of ADA has almost tested the support level of $0.7819.
Even if the daily candle closes near $0.82 or above, bulls might need more time to accumulate energy for a further move. In this case, sideways trading in the range of $0.81-$0.84 is the most likely scenario.
From the midterm point of view, neither buyers nor sellers are controlling the situation on the market. Thus, the volume remains low, confirming the absence of bulls and bears' energy. All in all, traders are unlikely to see sharp moves anytime soon.
ADA is trading at $0.822 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team