Most of the coins have not found a local bottom, according to CoinMarketCap.
Top coins by CoinMarketCap
ADA/USD
The rate of Cardano (ADA) has dropped by 1.29% over the last 24 hours.
Image by TradingViewOn the hourly chart, one should pay attention to the local support level of $0.3796. If the daily bar closes far from it and closer to the resistance, there is a chance to see a test of the $0.39 zone tomorrow.
Image by TradingViewOn the bigger time frame, traders should focus on the candle’s closure in terms of the nearest support level of $0.3772.
If sellers’ pressure continues, there is a possibility of seeing a breakout, followed by a further drop to $0.3575.
Image by TradingViewFrom the midterm point of view, the situation remains bearish. If the bar closes with no long wick and below $0.3793, the energy might be enough for a move to the $0.35 range.
ADA is trading at $0.3826 at press time.
About the author
Denys Serhiichuk
With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.
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