The sellers’ pressure continues on the cryptocurrency market, according to CoinStats.
ADA/USD
The price of Cardano (ADA) has gone down by 4.24% since yesterday.
Despite today’s fall, the price of ADA is in the middle of the local channel. As none of the sides has seized the initiative yet, the ongoing sideways trading around $0.57 is the more likely scenario until tomorrow.
On the daily time frame, the price of ADA has made a false breakout of the support of $0.5588.
If the bar closes far from this mark, the growth may continue to $0.58 soon.
On the weekly chart, the picture is less positive. The price has come back to the support level of $0.5588. If the candle closes around the current prices, the breakout may lead to a more profound drop to the $0.53 zone.
ADA is trading at $0.5739 at press time.
Read the full article here
