Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.
Bears seem like they are not going to give up as the coins keep trading in the red zone.
Track live crypto price of 10000+ coins!
Cardano (ADA) could not withstand the overall bearish trend, losing 3.50% of its price since yesterday.
On the hourly chart, Cardano (ADA) is fighting for the vital level of $1. The selling volume is going down, which means that bears are lacking energy to keep the pressure up. In this case, there is a chance to see a local bounceback shortly to the area of $1.01.
On the bigger time frame, Cardano (ADA) is going down after a false brekaout of the major liquidity zone at $1.069 that serves as the resistance. The trading volume is going up, which means that the drop may not have ended yet.
In this regard, the rate of ADA has a good chance to test the resistance at $0.917 once again.
On the weekly chart, bulls are losing the area of $1, which is crucial in terms of long-term growth.
If the bears keep the pressure and the candle fixes near $0.917, one can expect one more sharp drop to $0.810 shortly.
ADA is trading at $0.987 at press time.
Download MAXBIT Android App, Your best source of all crypto news!
Share this article: