U.Today - The majority of the coins are in the red zone today, according to CoinMarketCap.
ADA/USD
The rate of Cardano (ADA) has increased by 1.17% over the last 24 hours.
On the hourly chart, the price of ADA is falling after a false breakout of the resistance of $0.6050. If the fall continues, one can expect a test of the $0.57 zone shortly.
On the bigger time frame, the rate of ADA is far from key levels. The daily bar is also far from its peak, which is a bearish signal.
If the situation does not change by the end of the day, traders may witness an ongoing decline to the $0.55 area.
From the midterm point of view, the price of Cardano (ADA) is neither bullish nor bearish. The rate is trading within yesterday's bar. In this case, sideways trading in the range of $0.50-$0.65 is the more likely scenario until the end of the month.
ADA is trading at $0.5874 at press time.
This content was originally published on U.Today
