u.today
Bulls could not hold the initiative at the beginning of the weekend, and most of the coins are back in the red zone.
ADA/USD
The rate of Cardano (ADA) has declined by 0.52% over the last 24 hours.
ADA/USD chart by TradingView " src="https://cnews24.ru/uploads/24a/24a6dcb4e6cdad209e5978928f0d09556739a5e8.png" size="1783x889">
On the hourly chart, Cardano (ADA) has started the day with a false breakout of the local support level at $0.3110. However, the price has failed to break the resistance at $0.3134. If the rate cannot be fixed above that mark by the end of the day, the fall may continue to $0.31 tomorrow.
ADA/USD chart by TradingView " src="https://cnews24.ru/uploads/20e/20eeac85bd5a3084d6cac986520a38159764ea2b.png" size="1783x889">
The situation has not changed so far on the daily time frame, as the price keeps accumulating power for a further sharp move. The rate is located in the middle of the wide channel between the support at $0.2953 and the resistance at $0.3265. As the price is far from these levels, continued sideways trading in the range of $0.3050-$0.3150 is the more likely scenario for the upcoming week.
ADA/USD chart by TradingView " src="https://cnews24.ru/uploads/d24/d2423e3eda47b522626c1726b5ea587f1ee8e419.png" size="1811x889">
The weekly chart paints a similar picture. If buyers want to seize the initiative, they need to bring the rate back above the $0.32 zone. In this way, traders could expect a short-term bull run.
ADA is trading at $0.3132 at press time.