Bulls have failed to maintain growth, and most of the coins have returned to the red zone, according to CoinMarketCap.
ADA/USD
The price of Cardano (ADA) has declined by almost 4% over the last day.
On the hourly chart, the rate of ADA is on the way to the local support of $0.7353. If the decline continues, one can expect a test of the $0.73 range by tomorrow.
On the bigger time frame, the picture is similar. If a breakout of the $0.7445 level happens, traders may witness a test of the $0.70-$0.72 zone by the end of the week.
From the midterm point of view, the price of ADA is going down after a false breakout of the resistance of $0.8466.
If bulls cannot seize the initiative shortly, there is a chance of a test of the $0.70 mark the upcoming week.
ADA is trading at $0.7463 at press time.
Leave a Reply