Some coins are returning to the green zone at the end of the week. However, the rates of most cryptocurrencies keep falling, according to CoinMarketCap.
Top coins by CoinMarketCap
ADA/USD
The price of Cardano (ADA) has fallen by 0.60% over the last day.
Image by TradingView
On the hourly chart, the rate of ADA is close to the support level. If sellers’ pressure continues, one can expect an ongoing decline to the $0.87 zone by tomorrow.
Image by TradingView
On the bigger time frame, the situation is neither bullish nor bearish. The price of ADA is far from the support and resistance levels, which means traders are unlikely to witness sharp moves soon.
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In addition, the volume is low, confirming the absence of buyers’ and sellers’ energy.
Image by TradingView
From the midterm point of view, the picture is similar. As neither side is dominating, ongoing sideways trading in the narrow range of $0.85-$0.90 is the more likely scenario.
ADA is trading at $0.8846 at press time.
