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 cryptocurrency market is neutral today, according to CoinStats.
ADA/USD
Cardano (ADA) has joined the list of falling coins, going down by 1.5%.
On the local time frame, the rate of ADA might have set a support level of $0.2446. The selling volume has risen, which means that bears are controlling the initiative. If the daily bar closes below $0.25, traders can expect a further correction to the $0.2450 area tomorrow.
On the bigger chart, traders should pay attention to the interim zone of $0.2450. If it breaks out, the energy might be enough for a further decrease to the support of $0.2380.
A bearish situation can also be seen on the daily chart against BTC. The bar is about to close near the support of 0.00000868. If the false breakout does not happen, the drop may continue to the 0.00000840 zone soon.
ADA is trading at $0.2480 at press time.
About the author
Denys Serhiichuk