Bulls could not keep yesterday’s rise going, according to CoinMarketCap.
ADA/USD
Cardano (ADA) is one of the biggest losers today, falling by 5.54%.
On the hourly chart, the rate of ADA has made a false breakout of the local support of $0.8893. As most of the daily ATR has been passed, there are low chances of seeing sharp moves by tomorrow.
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However, if the candle closes around the current prices, the correction may continue to the $0.86-$0.88 zone.
On the longer time frame, the picture is bearish. The price of ADA is testing the support of $0.9011. If its breakout occurs, the accumulated energy might be enough for a more profound decline to the $0.86 mark.
From the midterm point of view, the rate of ADA is far from key levels. In this case, one should pay attention to the nearest zone of $1. If the weekly bar closes above it, growth may lead to a test of the $1.20 range.
ADA is trading at $0.9008 at press time.
Source: https://u.today/cardano-ada-price-prediction-for-august-18